Landlord's lament: Dwindling demand has caused the industry to stall
Apartment Rental in Virginia
Over the five years to 2018, the Apartment Rental industry in Virginia has largely stagnated. While industry performance has been aided by a decreasing rental vacancy rate, demonstrating a rise in demand for rental housing, the state industry's performance has faltered amid relatively weaker employment growth in the state. Moreover, industry revenue growth has been hindered by rising homeownership rates in the state in recent years. Over the five years to 2023, the industry is anticipated to continue to decline slightly. The rental vacancy rate is expected to rise, which indicates that supply conditions may surpass demand.
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 apartment rentals, the industry also includes 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.
Table of Contents
Companies Mentioned (Partial List)
A selection of companies mentioned in this report includes, but is not limited to:
- Long & Foster Real Estate Inc.
- Century 21 New Millennium
- TTR Sotheby’s International Realty
- Coldwell Banker Residential Brokerage
Methodology
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