Industry News

The middle of the rental market

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A Harvard University study highlights demographics and trends for the middle-market of rental housing, a sector with about 14 million units that house about 35 million people, or 40 percent of the rental population. The study, conducted by Harvard's Joint Center for Housing Studies, was underwritten by the National Association of Realtors, the National Multi Housing Council and the Research Institute for Housing America of the Mortgage Bankers Association.   The middle market is defined as having rental prices between the 40th and 80th percentiles of local rent distributions, while the upper market is defined as the upper one-fifth in rental prices.   Demographic projections show that a wave of people will be entering the middle-market for housing in the next 10-20 years, according to the National Multi-Housing Council, and the study is intended as a guide to serve the needs of this market.   "The middle market is remarkably fluid," said Nicolas P. Retsinas, director of...