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Industry Insights: The Future of Multifamily

Industry Insights: The Future of Multifamily

More rental investors are looking at multifamily housing, both as homebuyers consider options in a challenging housing market and investors look to offer solutions. The demand for rental investments has skyrocketed recently. According to several industry leaders, the sector will grow even further. In a report by The National Apartment Association, the U.S needs approximately 4.6 million new multifamily apartments by 2030 to cope with the high demand. Here is what you need to know about the trend and how Targa Real Estate can help.

Millennial Preference

The World Property Journal recently reported that more and more millennials prefer to rent rather than own an apartment. Developers have to keep up with this trend by building in urban areas. Such developments are located in neighborhoods with entertainment and socializing opportunities. Targa Real Estate offers a wide variety of apartments to fit different needs.

Gateway Markets and High-growth Metropolitan Areas

Multifamily investors can benefit significantly in gateway markets and high-growth metropolitan areas. CBRE reports that the demand for multifamily housing is always on the rise in these areas. CBRE also predicts that over 200 multi-family projects will be completed by the end of this year. Identifying these key markets could prove a promising investment. To learn more about how Targa can help with multi-family management, click here.

Technical Revolution

More residents are seeking multifamily housing with smart technology to boost convenience. In fact, it is projected that technology will become a part of the core design in multifamily housing rather than a simple add-on appliance or accessory. Most of the time, these residents need internet TV and a strong Wi-Fi connection. Targa Real Estate in Tacoma is striving to bring you state-of-the-art multifamily housing, incorporating smart technology like smart thermostats and keyless entry systems in urban developments to bring you the comfort you need.

You can contact us today to take your assets to a whole new level. Ensure that you also check out our Targa careers to explore your potential.