Demand for rental units by families is expected to far outstrip supply over the next few years.
Over the past decade, developers have been focused on single, urban, and transient millennials, while often ignoring demand from families, according to a new report, Family Renter Housing: A Response to the Changing Growth Dynamics of the Next Decade, by RCLCO and the Urban Land Institute’s Terwilliger Center for Housing. As homeownership rates have declined and housing costs have risen, however, developers may now have the incentive they need to focus on families over the next decade.
The report notes that there are new forms of rental family housing emerging, but there are continuing challenges to getting them constructed, including developer preferences, entitlement, zoning, and other regulations.
Related Stories
Codes and Standards | Dec 20, 2017
Moody’s says cities may face credit downgrades if they don’t address climate risks
Credit ratings giant will ask what communities are doing to mitigate risk exposure.
Codes and Standards | Dec 18, 2017
Schools with optimal indoor environments boost student performance and energy efficiency
World Green Building Council report confirms that lighting, indoor air quality, thermal comfort and acoustics impact learning.
Codes and Standards | Dec 14, 2017
Mayors sign Chicago Climate Charter; will strive to meet Paris accord goals
Pledge to push for more local authority to reduce emissions.
Codes and Standards | Dec 13, 2017
New report examines ongoing costs of green infrastructure options
The report compares solutions to reduce stormwater.
Codes and Standards | Dec 12, 2017
Total cost of structural fires in U.S. reached $328.5 billion in 2014
Costs associated with losses was $55.4 billion.
Codes and Standards | Dec 11, 2017
Steel-timber composite system proposed for mid- and high-rise buildings
Structural steel columns and beams support a cross-laminated timber floor system.
Codes and Standards | Dec 7, 2017
Many coastal states performing poorly to protect beaches, coastlines
The most vulnerable regions fare the worst in new study.
Codes and Standards | Dec 6, 2017
2017 wildfires highlight gaps in California’s approach to fire safety in urbanized areas
Better hazard mapping and retrofit programs could help.
Codes and Standards | Dec 5, 2017
Guide for understanding medical monitoring requirement of OSHA silica standard released
Center for Construction Research and Training gives advice on new regulation.
Codes and Standards | Dec 4, 2017
Trump tax proposal would kill historic tax credits
Developers would lose up to 20% discounts on some redevelopment projects.
