Future Apartment Demand

Future Apartment Demand

National Apartment Association and National Multifamily Housing Council
Friday October 21, 2016

The National Multifamily Housing Council (NMHC) and the National Apartment Association (NAA) seek an analysis of future apartment demand for the United States and several metropolitan areas.

About Us

For more than 20 years, the National Multifamily Housing Council (NMHC) and the National Apartment Association (NAA) have partnered on behalf of America's apartment industry. Drawing on the knowledge and policy expertise of staff in Washington, D.C., as well as the advocacy power of nearly 170 NAA state and local affiliated associations, NAA and NMHC provide a single voice for developers, owners and operators of multifamily rental housing. One-third of all Americans rent their housing, and 38 million of them live in an apartment home.

Project Background and Deliverables

Changing demographic trends and the increased view of renting as a lifestyle choice instead of simply a necessity have created record demand for apartments. Many of these trends should continue to favor apartment living, as the Millennial generation continues to enter the housing market, and Baby Boomers begin to consider downsizing.

The goal of this study is to provide quantitative estimates of future apartment demand for the U.S. at the national and state level, as well as for select metro areas. To accomplish this, the study should develop a methodology to measure how many additional apartment homes could be needed in the future.

The study should result in a report that includes:

  • An estimate of the national number of apartment units that could be needed in the future. This should include several different scenarios (such as baseline, conservative, and aggressive).
  • An estimate of the future demand for apartments in the 50 states and DC. The estimates for the states should sum to the estimate for the nation.
  • An estimate of the future demand for apartments in metropolitan areas around the country. The final number of metro areas studied will depend on budget, but pricing should be included for a minimum of 12.
  • Accompanying text that includes case studies of individual metropolitan areas that discuss specific economic and demographic factors that could play a role in shaping demand in that area going forward.

Submittal Instructions

NMHC and NAA value creativity in execution. Firms submitting proposals are encouraged to consider additional/alternative plans of action than the deliverables listed here. However,all proposalsshould clearly demonstrate how the firm plans to approach the outlined goals.

In addition, each proposal should include:

  • Background and capabilities
  • Plan/scope of work, to include a detailed methodology and specific data sources
  • Budget
  • References from similar work

Proposals are due by October 21, 2016. Please send all proposals or any questions to Mark Obrinsky, Chief Economist at mobrinsky@nmhc.org or 202-974-2329. 

Posted September 30, 2016

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