US to develop 4.6 million apartments by 2030 to keep up with demand

Posted on October 25, 2021   |  

The market needs to construct 4.6 million apartments by 2030 to maintain up with demand.

The US will need to create an average of 328,000 units every year through 2030.

Changing lifestyle and demographic trends are generating increased housing demand with such a high demand last seen in 1966 with renter households surpassed one million.

This imbalance in the market is further made worse by additional laws, municipal mandates, and zoning requirements that limit growth and raise expenses, worsening market-driven rent rises.