- June 23, 2017
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New research shows that demand for apartments is on the rise. Whether it’s young professionals, couples, families or empty nesters, the San Antonio-New Braunfels metro will add 53,890 new apartment households by 2030.
The driving forces for this demand are primarily apartment household growth, growth in rentership and population growth. Apartment households are anticipated to grow by 28% during the next 13 years due to the higher propensity to rent by families. An aging population, immigration and fewer home purchases are increasing the need for apartments and as our population grows, this puts a strain on the existing housing supply. A variety of housing options will be necessary to meet the diverse needs.
Understanding the need to build more apartments is the key to keeping up with demand but producing enough new inventory requires new development appraoches, more incentives and fewer restrictions.