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Eight Markets Where Young Adults are Boosting the Renter Pool

Overall, the population of young adults is down across the country.

By Kristen Smithberg | April 01, 2025 at 04:42 AM

The latest data from the U.S. Census Bureau shows that the number of people between the ages of 20 and 34 dropped by about 587,000 between 2022 and 2023. According to a RealPage analysis, this could have significant implications for the multifamily sector, as this age cohort is a key demographic in apartment-renter households.

The analysis said the decrease amounted to a year-over-year decline of 0.9%, below the 1% increase from 2021 to 2022. However, in several of the nation’s largest markets, the population of young adults grew by 1.5% or more.

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