Multifamily Construction Is Shifting to the Suburbs

About one-third of multifamily building has moved to low-density markets in the suburbs and exurbs, which are seeing populations increase faster than are city centers over the past year, the National Association of Home Builders reported during the virtual International Builders’ Show on Thursday.

During the pandemic, the property share of 50-plus, high-rise units are on the decline as low-density rental options and single-family rentals are on the rise as renters seek more space and less density and are growing leery of buildings requiring elevators and common spaces.

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