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 | Apr 5, 2019
Manhattan expected to adopt congestion pricing plan for automobiles
New York would be first U.S. city to charge drivers extra for downtown motoring.
Codes and Standards | Apr 4, 2019
Chicago makes major building code overhaul
Previous comprehensive changes were done 70 years ago.
Codes and Standards | Apr 3, 2019
Construction advanced materials makers can enhance industry efficiency with technology
Integration of new IT approaches in construction with new materials has potential to enhance sustainability, alleviate worker shortage.
Codes and Standards | Apr 2, 2019
Open offices reduce collaboration among employees
Counterintuitive finding makes value of wide open workspaces questionable.
Codes and Standards | Mar 29, 2019
New timber traceability LEED credit released
Pilot credit aims to reduce use of illegal wood in buildings.
Codes and Standards | Mar 28, 2019
Swinerton forms new mass timber business group
Will pursue new projects being developed with mass timber.
Codes and Standards | Mar 27, 2019
Shortage of skilled construction workers resulting in missed deadlines
Some 40% of contractors have turned down project offers.
Codes and Standards | Mar 25, 2019
ICC release 2019 guidelines for safe use of repurposed shipping containers
Provides in-depth, technical overview on how to design, review, and approve shipping containers as building elements.
Codes and Standards | Mar 22, 2019
Tool helps cities develop framework for life-cycle energy policies and track progress
Identifies policies, funding sources to address building energy use.
Codes and Standards | Mar 21, 2019
New York City contractors adding 5% to 10% to construction costs due to trade war
Tariffs on steel, aluminum, and other materials swell budgets.