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Ranks of Apartment Dwellers Increase Dramatically

Published Wednesday, March 05, 2008

More than one million households joined the ranks of renters in the last two years, according to a new report by the National Multi Housing Council, a Washington-based group representing the multifamily rental housing industry. Nationwide, the number of renters is projected to increase by 4.3 million households over the next decade, says Mary Ann King, 2007 NMHC chairman, in the council’s newly released annual report. Apartment demand is forecast to increase by 430,000 units annually, the report says. In part, the rise in the number of apartment dwellers can be traced to the crisis in the residential ...

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