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Introduction

This positive jobs picture is buoying demand for apartments, which is increasing occupancy levels in apartment buildings and underscoring the need for more apartments.New apartment construction has accelerated in response to the growing demand, but the level of activity remains well below historical levels and is insufficient to meet apartment demand.

LIVING IN APARTMENTS

Renting can be smart choice for a wide range of individuals and families across all income levels. That’s why a diverse array of people call apartments home.

Apartment Residents
38,791,276
Spending Power
$405,970,000,000
Direct Jobs Supported
3,571,319
Total Economic Contribution
$1,028,930,000,000
Total Jobs Supported
10,082,905

Single Individual living alone or with roommates

12,613,746

Single Parent

2,331,741

Married couple with no children

2,058,395

Married couple with children

1,677,824

Total 18,681,706
1 Person Household
49%
2 Person Household
27%
3 Persons or More in Household
24%
12%

of population lives in apartments

Managing Apartments

Apartment homes are economic engines, driving dollars and jobs that strengthen local communities.

Total Apartment Homes
20,378,207
Operation Dollars Spent
$69,058,231,708
Direct On-site Jobs
468,955
Total Economic Contribution
$190,739,000,000
Total Jobs Supported
1,510,302
5 to 9 apartment homes per building
27%
10 to 29 apartment homes per building
26%
20 to 49 apartment homes per building
20%
50 apartment homes per building or more
27%

Building Apartments

Apartment construction continues as a bright spot in the economy, helping lead the housing recovery.

Construction Dollars Spent
$29,996,883,000
On-site Jobs
162,686
Total Economic Contribution
$92,555,382,497
Total Jobs Supported
702,482
Apartments Built 1959 or earlier
17%
Apartments Built 1960 to 1979
33%
Apartment Built 1980 - 1999
33%
Apartments Built 2000 or Later
17%
38%

Multifamily Percentage of Total Building Permits