Apartments Contributed $1.3 Trillion to U.S. Economy in 2013

The apartment industry contributed $1.3 trillion to the U.S. economy and supported 12.3 million jobs in 2013, according to research commissioned by the National Multifamily Housing Council and the National Apartment Association.

Apartment construction had the most significant impact, contributing $92.6 billion to the economy. The report covers the economic contribution of apartment construction, operations, and resident spending.

The report cites demographic changes such as the burgeoning millennial population and a resurgence of metropolitan urban cores as key drivers of sector growth.