With the echo boomers population growing and expected to peak in 2020, the demand for apartments is at an all-time high. Multi-family real estate is one of the smarter investments to make today.
Here are statistics from reliable sources that you should know about home ownership declining and the increase in demand of apartments increasing from IRR Viewpoint Report:
Home Ownership:
- Home ownership has decreased from 69% in 2004 to 64% in 2017
- For every 114 million households, a 1% decrease means 1.14 million units of additional rent is in demand
- From 2004 to 2017, there has been a rent demand of 5.7 million additional units
Echo Boomers:
- In 2009, 29.4% of adults ages 18-34 were living at home with parents
- A ¼ century ago, this percentage was at 27%
- The total number of young adults living at home is a record breaking 20.3 million
With the current economy improving, these young adults are looking for multi-family units, creating this demand in apartments. Also, home ownership is projected to continue to decrease in the future.
ApartmentVestors is answering this demand for apartments. The time to invest is now. To learn more about multi-family real estate, contact Craig Domann, ApartmentVestors at (719) 310-6441 or check out our Learning Center at http://apartmentvestors.com/why-multifamily.
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