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Apartment Occupancies the Highest Ever
Apartment occupancy is the strongest it has ever been in the United States. In May, it reached 95.3 percent, which is an all-time high, according to research firm Axiometrics.
In addition, rents are going up as well. They rose five percent in May, the fourth month in a row of increases.
Apparently much of what is driving demand are Millennials who prefer to live in apartments and urban settings and Baby Boomers looking to downsize.
Meanwhile, the Urban Land Institute says that this demand will only become stronger and there is a vital need to build more multifamily,
- ◦Development
