Apartment Rental in the US - Market Research Report (2014-2029)

Revenue for apartment lessors has grown over the five years to 2024. Apartment lessors collect rental income from properties they lease, where market forces largely determine their rates. The supply of apartment rentals has grown slower than demand, which has elevated rental rates for lessors' benefit. Favorable economic conditions and demographic trends during most of the period have driven growth in demand. The spread of COVID-19 lessened demand for apartment rentals, causing a decline in revenue in 2020 and 2021. Revenue has grown since 2022 as higher prices and strong demand have fuelled a robust rental market. Revenue has grown at a CAGR of 2.1% over the past five years and is expected to reach $282.3 billion by the end of 2024. This includes an anticipated 1.0% rise in 2024 alone.