Americans are on the move, and those moves are affecting rent prices in Illinois and around the country.
Millennials, or people spanning the ages of 24 to 39, are officially the nation’s largest generation, according to Pew Research Center. The young, but mature, age group is targeted to be in their prime home-buying years, but research shows they continue to lag behind previous generations in fulfilling the goal of homeownership.
The National Multifamily Housing Council’s Quarterly Survey of Apartment Market Conditions shows a mixed bag of market conditions as of January, based on responses from multifamily professionals.
Over the last 10 years, anyone could do well in multi-family, and we expect that 2021 will see a separation of the good from the not so good. A bifurcation in performance is coming that will present new buying and business growth opportunities for top performers.