For rent: Favorable demographic trends and improving economic conditions will support industry growth
Apartment Rental in New York
Operators in the Apartment Rental industry are set to reach new revenue highs over the five years to 2017. Although the industry experienced some difficulty prior to the past five years, the subprime mortgage crisis pushed some individuals out of homeownership and into renting. Increasing demand, combined with a shortage of available rental units due to industry pullback during the economic downturn, decreased rental vacancy rates and enabled landlords to raise rents. As the economy improves over the next five years, the unemployment rate will drop and income levels will rise, enabling some people to afford renting at higher rates. In addition, an ever-increasing number of young adults, the age group most likely to rent, will enter the labor force. However, improving economic conditions will help others buy a home, thereby sapping demand for apartments.
Operators in this industry act as lessors of buildings used as residences or dwellings in the state of New York. 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:
- The Related Companies LP
- LeFrak Organization Inc.
- Blackstone Group LP
- Cammeby’s International Ltd.
Methodology
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