Written By The Joint Center for Housing Studies
A full link to the main study can be found here: http://www.jchs.harvard.edu/research/state_nations_housing The excerpts from this article are taken from the RENTAL HOUSING portion of the study.
After more than a decade of soaring demand and five years of real rent increases, rental markets across the nation remain extremely tight in 2016. Rapid growth in both renters and rents continued in most markets, although the pace moderated somewhat in certain high-cost markets. Meanwhile, multifamily construction took up the lead from single-family conversions in adding supply, but most of these new apartments are concentrated at the high end. As a result, the diminishing supply of low-cost rental housing remains in high demand, fueling ongoing concerns about the market’s ability to meet the housing needs of lower-income households.