Despite our difficult times and economy, multifamily housing continues to be resilient. Strong fundamentals make this industry a strong long term investment.
The housing shortage here in the Southeastern United States is undeniable, increasing the high demand for rental growth.
To keep up with the market, 4.6 million new multifamily apartments will need to be developed by 2030, according to the National Multifamily Housing Council.
This continuous shortfall in the industry’s ability to keep up with the demand will no doubt increase the asset class performance.
Multifamily housing at several income levels are expected to have significant returns. Along with the newest renter grouping, who is renting for the conveniences, median rents are being forced to increase because of the under supplied market.
“Rising rents are making it increasingly difficult for households to save for a downpayment and become homeowners,” says Whitney Airgood-Obrycki, a research associate at the JCHS. “Affordability is a major barrier even if you’re making a solid income.”
The current economic situation has made owning a home more difficult than ever for families and professionals.
As a leader in multi-family construction and renovation, SWET Construction Group uses the latest technology, focus on what consumers are looking for and the latest trends to deliver quality solutions to your projects.
While many multi-family housing 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.
We highly recommend that you contact us to discuss your building project. Our professionals will show you, examples and discuss options. We are able to work within your budget and will suggest cost saving options for your project. We specialize in multi-family designs, both interior and exterior projects.