Middle Market Rental Housing Is Being Ignored

WASHINGTON, DC-They are not luxury apartment seekers and they do not need affordable housing. They are the middle-market renters, diverse in age and ethnicity, and they account for about 40% of renters today. That number is expected to grow with the burgeoning echo boomer population (children of baby boomers) and the anticipated increase in immigrants over the next two decades.

But this segment is not getting the attention it deserves, according to three Washington, DC-based housing organizations. The National Multi Housing Council, the National Association of Realtors, and the Mortgage Bankers Association’s Research Institute for Housing America commissioned Harvard University’s Joint Center for Housing Studies to produce a report; that report, “Middle Market Rentals: Hiding in Plain Sight,” concludes that this segment of renters needs the attention of policymakers in order to accommodate future demands.

“Demographic projections make it clear that we must develop a better understanding of how the middle market operates if we are going to meet our future housing needs,” NMHC president Douglas M. Bibby says. “This research is the first step in figuring out how the rental sector can effectively serve that market.”