For Multifamily Executive, Hamilton Zanze CEO Kurt Houtkooper details the reasons for optimism about the multifamily market and his company’s plans for 2024.Read
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.