- The U.S. needs 4.3 million new
apartment units between now and 2035 in order to mitigate issues related
to apartment demand and the shrinking supply of affordably priced
housing, according to research commissioned by the National Multifamily Housing Council and National Apartment Association.
- This number incorporates an
existing deficit of 600,000 apartment homes, which the study attributes
to underbuilding associated with the 2008 economic downturn. In
addition, between 2015 and 2020, the nation’s supply of affordable
housing — defined as housing units with rents less than $1,000 per month
— declined by 4.7 million units.
main reason for these units not existing is that we have had a reverse
filtering phenomenon occur because of our supply shortage. Because there
are not enough available units, it moves the asking rents up, reducing
the number of affordable units,” Caitlin Sugrue Walter, vice president
of research for the NMHC, told Multifamily Dive.
RSK: With the tens of thousands of immigrants entering the US every month, you can double this estimate.
Ken Notes: We need workforce housing that includes apartments and smaller affordable homes for our retail and service workers. You should not be allowed to buy coffee unless you know where your barista lives. We need inclusive neighborhoods with diverse housing opportunities.