ATLANTA—Paul Wrights is only 31, but he's moved up the commercial real estate ranks quickly. And the executive vice president of Cortland Partners is especially savvy about multifamily real estate trends.

The primary renter demographic of individuals aged 22 to 34 has grown to a level not seen since the late 1980s. That's generating tremendous demand for multifamily housing, according to Wright.

“The demographic trends show there is more growth left to come for this primary renter cohort, which will continue to greatly benefit the multifamily industry,” Wrights tells GlobeSt.com. “The decrease in the home ownership rate, the increase in average student debt and the continued trend of men and women waiting longer to marry and form households, have all combined to push demand for rental housing even higher.”