Apartment Rental in the US - Industry Market Research Report

December 2020 •
52 pages •
Report ID: 199052 •
Format: PDF

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For rent: An oversupply of rentals is expected to push up vacancy rates and hamper revenue

Abstract

Apartment Rental in the US
Operators in the Apartment Rental industry have performed strongly over the five years to 2019; however, industry performance softened in 2017 as vacancy increased. Since the subprime mortgage crisis, the industry has undergone structural change. Leading up to the crisis, a majority of investment in real estate was carried out by institutional investors (those who own 10 properties or more), whereas today, a majority of properties for rent are single-investor owned and nonowner-occupied. Historic lows in homeownership, decreasing rental vacancy rates and surging demand for rental units have enabled landlords to increase rents, aiding revenue growth. Therefore, IBISWorld expects industry revenue to climb over the five years to 2019. Over the five years to 2024, industry revenue is forecast to fall. This anticipated decline is likely a consequence of an oversupply of luxury units, which is expected to increase vacancy and diminish landlord’s comparative pricing power.

Operators in this industry act as lessors of buildings used as residences or dwellings. Industry participants are owner-lessors of residential buildings and establishments that rent real estate and then act as lessors by subleasing it to others. In addition to apartments, the industry also rents single-family homes and town houses.

This report covers the scope, size, disposition and growth of the industry including the key sensitivities and success factors. Also included are five year industry forecasts, growth rates and an analysis of the industry key players and their market shares.

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