Understanding the Demand for Workforce Multifamily Housing

The number of single-family and multifamily workforce renter households totaled approximately 13.5 million in 2017, according to the US Census Bureau.

Demand for workforce housing is not limited to individuals and families whose incomes are in the 60% to 100% AMI range. Higher income households often choose more affordable housing for a variety of financial and nonfinancial reasons, such as paying off student debt, saving to buy a house, proximity to family and employment, etc.

Most individuals and families in workforce housing do not have the financial means for homeownership. Some will in the future, certainly, especially if they are young and getting started in careers but the majority are truly "renters by necessity" and stay in workforce housing.

(Source - 2018 CBRE The Case for Workforce Housing Report)