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APARTMENTS
WE LIVE HERE In communities across the country, apartments work – helping people live in a home that’s right for them. And demand continues to grow. Learn how apartments create communities and contribute to the economy.
THERE ARE
MILLION
Apartment Residents
1/3
OF AMERICANS RENT THEIR HOMES
1/3
OF RENTERS LIVE IN APARTMENTS
UP
TO
1/2
OF ALL NEW HOUSEHOLDS THIS DECADE WILL RENT
WE BUILD HERE
NEW CONSTRUCTION IS RISING, BUT STILL WELL BELOW DEMAND
IT TAKES AT LEAST
300,000
NEW APARTMENTS EACH YEAR TO MEET DEMAND
BUT ONLY
157,000
WERE BUILT IN 2012
IT CAN TAKE TWO TO TEN YEARS FOR AN APARTMENT COMMUNITY TO GO FROM INITIAL CONCEPT TO DEVELOPMENT
$14.8 BILLION
WAS SPENT ON APARTMENT CONSTRUCTION IN 2011
THIS CONSTRUCTION SPENDING GENERATES
A TOTAL ECONOMIC IMPACT OF
$42.5 BILLION
APARTMENTS SPUR COMMUNITY GROWTH AND SUPPORT
LOCAL JOBS
324,000
JOBS CREATED FROM APARTMENT CONSTRUCTION
121,000 ONSITE JOBS
79,000 OFFSITE JOBS
123,000 INDIRECT JOBS
THERE ARE
19.3 MILLION APARTMENTS
AND THEY COME IN ALL SHAPES AND SIZES
27%
5 - 9 APARTMENTS
PER BUILDING
20%
20 - 49 APARTMENTS
PER BUILDING
26%
10 - 19 APARTMENTS
PER BUILDING
27%
50+ APARTMENTS
PER BUILDING
WE WORK HERE
APARTMENTS ARE HOME TO MILLIONS OF JOBS
686,000 PEOPLE WORK IN APARTMENT BUILDINGS
COMMUNITY MANAGEMENT
LEASING STAFF
MAINTENANCE STAFF
$67.9 BILLION
SPENT ON APARTMENT OPERATIONS IN 2011
$182.6 BILLION
TOTAL ECONOMIC CONTRIBUTION FROM APARTMENT OPERATIONS
2.3 MILLION
TOTAL JOBS SUPPORTED BY OPERATING THE NATION'S APARTMENTS
UNION STATION
APARTMENTS ALLOW PEOPLE TO LIVE NEAR THEIR JOBS
65%
OF APARTMENT RESIDENTS LIVE WITHIN 30 MINUTES OF THEIR WORK
28%
LIVE WITHIN 15 MINUTES OF
THEIR WORK
ROUGHLY
1 IN 4
USE ALTERNATE TRANSPORTATION TO COMMUTE, LIKE WALKING, BIKING OR TAKING THE SUBWAY
Where Apartment
Residents Work
865,885
Teachers
122,692
Active-duty military
94,031
Physicians and Surgeons
40,727
Butchers
42,253
Bakers
3,363
Candlestick Makers
WE SPEND HERE
RENTERS GENERATE JOBS AND DOLLARS FOR THEIR LOCAL COMMUNITIES
ENTERTAINMENT
$
$26.7B
$421.5 BILLION
APARTMENT RESIDENT SPENDING IN 2011
APARTMENT RESIDENTS SPEND
$1.2 BILLION EVERY DAY. IN 2011 THEY SPENT...
GROCERIES
$
$52.3B
$25.7B
APPAREL
HEALTH CARE
DINING OUT
$34.7B
$
$28.5B
$4.1B
FURNITURE
ALL THAT SPENDING ADDS UP!
$885.2 BILLION
TOTAL ECONOMIC IMPACT FROM RESIDENT SPENDING SUPPORTS
22.8 MILLION JOBS
MILLIONS BUILD THEIR LIVES IN AND
AROUND THE APARTMENT INDUSTRY
WE SUPPORT 25.4 MILLION JOBS AND
MAKE A $1.1T ECONOMIC CONTRIBUTION
WE BUILD HERE
WE WORK HERE
WE SPEND HERE