Multifamily housing and rental apartments have proven to have a high return on investment the the Southeastern United States. Rental prices are increasing and occupancy rates are consistently high, making it a very lucrative place to invest!
For the first time ever, there are more people renting in the Unites States than owning. Experts in the industry all agree, rents will continue to rise, as well as the number of people renting.
According to the latest Yardi Matrix data, the average rent in the United States increased by 2.5% year over year. As of May 2019, the monthly average rent reached $1,442.
While many multi-family housing construction and renovations are focusing on the younger renters, downsizing baby boomers still make up a good percentage. Recent studies show by 2020 nationwide 20 percent of renters will be over the age of 50 or older. Both smaller apartments, studios and one bedrooms, and multi-bedroom apartments will both be in demand.
While Gen Y is quickly growing, with the potential of reaching 80 million renters, according to Multi-Family Executive. This demographic of tech savvy renters have come to expect certain amenities and a trendy look.
The multi-family housing industry needs a professional construction group to keep their building attractive to residence and generate revenue
Partnering with the right construction group will not only keep your construction costs low while achieving a beautiful architectural design, they will ensure your project is a great success by displaying quality traits such as preparedness, flexibility and awareness.
SWET Construction Group takes great pride an integrated approach to design and space planning for positive impacts not only for the building but also for the environment. We offer competitive pricing, innovative practices, clear communications and a trusted partnership. We also provide insights, essential data, news and extensive information to better inform their clients and strengthen their market position.