How big is the apartment industry?
Christopher Ramos
Updated on March 01, 2026
IBISWorld’s Apartment Rental in the US Industry Report has got you covered….Apartment Rental in the US – Market Size 2005–2027.
| $174.2bn | Apartment Rental in the US Market Size in 2021 |
|---|---|
| -3.9% | Apartment Rental in the US Market Size Growth in 2021 |
| 0.5% | Apartment Rental in the US Annualized Market Size Growth 2016–2021 |
How do I start an apartment business?
But to aid you in starting an apartment rental business or a townhouse rental business, we’ve laid out some of the basic steps below.
- Determine Your Asset Criteria.
- Find Your Space.
- Complete Renovations and Upgrades.
- Find Appropriate Vendors and Management.
- Create Plans for the Future.
How much does it cost to build a 10 story apartment building?
Multi-family Apartment Construction Cost Per Story
| Number of Stories | Cost per Square Foot | Average Range of Total Costs |
|---|---|---|
| 6 | $175-$250 | $8.5-$14.5 million |
| 10 | $175-$250 | $10.5-$16.5 million |
| 15 | $225-$400+ | $20-$35 million |
| 20 | $225-$400+ | $25-$50 million |
How much does owning an apartment cost?
As of October 2019, Sydney’s median unit price was either $720,658 according to CoreLogic or $694,840 according to Domain.
How big is the multifamily industry?
The national economic contribution of the multifamily industry is $3.5 billion daily, according to the NMHC and NAA . The apartment industry’s share of the national economy may be larger than you think.
How many apartment buildings are in the US?
Story Ideas and Statistics. The 2019 American Community Survey counted 139.69M housing units, up 1.15M from 2018, and up 7.90M from 131.79M in 2010.
How much does it cost to build a 20 story apartment building?
Cost to Build a 20-unit Apartment Building 20-unit buildings are 4 to 10 stories on average, making their average cost range between $3.1 and $20 million.
How many units are in an apartment building?
Because of the tight building envelope, the property is being developed with only 2 units per floor. This will be discussed in the Development Issues section. Each unit will be approximately 1,050 sf that will be comprised of 2 bedrooms and 2 full bathrooms. The building will feature an elevator for easy access as well as a staircase.
How big is the average office building in square feet?
The c HVAC and Lighting Controls and Operation median building size is 230,000 square feet. The average building size is 347,147 square feet. The typical building in the sample has 15 above-grade stories.
What are the different areas of building operations?
This includes maintaining the HVAC systems, plumbing, electrical, and building system configuration. Because building operations cover so many areas, many real estate companies have separate departments for operations, utilities, sustainability, and engineering. Here are the most important areas to address in building operations:
What’s the average age of an office building?
Buildings are mod- erate age, with 78% (n4327) built between 1970 and 1985, c Training and Tools and32percent builtbetween1986and1995. Over80percent are buildings with 100,000 square feet or more of condi- c Budget and Costs tioned space, with 7 percent (n429, all but two are Class A) over 1,000,000 square feet of conditioned space.
