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Introduction

A rediscovery of metropolitan urban cores and 80 million Millenials beginning to enter the housing market primarily as renters continue to drive apartment demand. In fact, it takes at least 300,000 to 400,000 new apartment homes each year just to keep up. While construction has accelerated in response, many communities still lack sufficient housing options.

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
37,030,718
Spending Power
$405,969,601,740
Direct Jobs Supported
3,571,319
Total Economic Contribution
$1,028,929,955,612
Total Jobs Supported
10,082,905
Married couple with no children
11%
Married couple with children
9%
Single Individual living alone or with roommates
67%
Single Parent
13%
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
19,696,731
Operation Dollars Spent
$69,058,231,708
Direct On-site Jobs
468,955
Total Economic Contribution
$190,739,112,210
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
Direct Jobs
162,686
Total Economic Contribution
$92,555,382,497
Total Jobs Supported
702,482
Apartments Built 1959 or earlier
21%
Apartments Built 1960 to 1979
31%
Apartment Built 1980 - 1999
31%
Apartments Built 2000 or Later
17%
37%

Multifamily Percentage of Total Building Permits