Demand for multifamily housing remains high, ensuring solid
returns for investors. According to the Wall
Street Journal, pent-up
demand for multifamily rentals is substantial, and is driven by the younger
generations reaching adulthood and seeking to build a life apart from their
parents. The WJS states that more than 50% of 18-24 year-olds still live with
their parents and are seeking affordable, flexible ways to fly the nest and
Enter multifamily rentals, which are easier to access and
offer more flexibility for those who are leaving home for the first time. Demand
looks to remain high, too, as mortgage prices continue to remain well above the
rate of growth in wages.
Not to be outdone by the Millennial cohort, rentcafe.com
notes that Baby Boomers are renting at a faster pace, too. Renter
households over age 60 are up by 43%, outpacing owner households and growing
faster than other age groups.
Investing in multifamily housing is a solid choice, as
economic factors affecting two of the largest age groups ensures demand will
remain strong into the future.