The Factors Behind America’s Apartment Boom

 

The American dream has long been to own a home with a white picket fence, but the last decade might show that times, and preferences are changing.

From 2010-2019 new apartment unit deliveries totaled 2.34 million, according to data from Yardi Matrix, a commercial real estate data and research firm.

Areas where jobs are created are largely responsible for the increase in new apartments, but other factors are at play says Yardi Senior Research Analyst Tara Jeffcoat. Young people have never been strangers to college but Jeffcoat said there are more millennials staying in apartments as they delay more expensive life milestones due to burdens like student debt.

However, boomers have also turned to apartments for fewer maintenance concerns and increased access to local amenities.

“This is a growing cohort that is doing it not because they have to, but because they want to. They are really driving that discretionary renter segment,” Jeffcoat said.

Apartment deliveries have mirrored the economic expansion since 2010, reaching a peak in 2017 with 331,000 new units. The number has declined in each of the last two years, but Jeffcoat is not ringing any alarm bells.

“I don’t think it’s significant yet,” Jeffcoat said. “I think we would need to see a much sharper decline or slope of the decline before really getting worried.”

As unemployment has decreased and highly skilled labor has become more in-demand, costs of construction have risen, causing a slowdown.

To see the full Yardi Matrix report, click here.

Follow us on social media for the latest updates in B2B!

Image

Latest

DXpedition
Icom Powers 3Y0K : Ham Radio’s Most Ambitious DXpedition to Remote Bouvet Island Part 1
July 11, 2025

Bouvet Island sits at the edge of the world. It is frozen, uninhabited, and almost impossible to access. Fewer people have set foot there than in space. That level of remoteness is exactly what makes it so valuable to amateur radio operators. The island ranks tenth on ClubLog’s list of Most Wanted DXCC entities,…

Read More
entrepreneurial success
The Hidden Key to Entrepreneurial Success: Build Momentum Through Personal Branding and Authentic Networking
July 10, 2025

What if the biggest pivot of your career started with a conversation?  In this episode of Professional Quotient, host Jason Winningham welcomes Fanny Dunagan, CEO and Content Strategist of PathLynks, LLC. Fanny shares her journey from high-pressure consulting in Singapore to founding her own media and branding company — and why learning to network…

Read More
Q2 2025
RM Q2 2025 Wrap Up
July 9, 2025

Rogue Marketing continues to lead with intention in a space often driven by noise. Q2 2025 reflected a strategic focus on substance, where each initiative supported long-term brand growth. The team transformed internal recognition efforts into enduring brand assets and refined event strategies through immersive, results-driven experiences. Website launches during the quarter balanced visual…

Read More
amateur radios
Hamvention Spotlight: Emergency Preparedness Led PrepHam Paul to Amateur Radios and a Rising Voice in the Field
July 9, 2025

PrepHam Paul (K5VLP) celebrated his first visit to Dayton Hamvention by marking a major channel milestone. He hosted a giveaway of the  IC-2370B mobile radio from Icom to thank viewers for helping him reach 10,000 subscribers. His passion for emergency preparedness, rooted in his experience as an Eagle Scout and later studies in emergency management,…

Read More