Industry Overview
The housing market today has been interesting to watch. While new home construction has decreased over the past few years, apartment complex construction has held steady and, in some areas, has actually increased.
The occupancy of apartment complexes depends on age, style and amenities; age of the tenant; lifestyle wanted and affordable; various amenities that are shared. Some complexes cater to younger tenants while others are designed for retirees.
Industry Trends
The trend today is to create a lifestyle, not just a place to live. Apartment complexes in Miami, Florida can be very different from the Charlotte, North Carolina apartments.
Where you have a climate that is conducive to outdoor living all year long, the amenities would include outdoor pools, tennis courts, basketball courts, boating and activity centers that house every type of exercise equipment imaginable. In a cooler climate, you might have some of the same amenities (activity centers) but the outdoor amenities might change.
Each complex tries to make life more interesting for its residents because of the number of available complexes in each city. A collective has been formed by the National Multi-Housing Council, making it easier to find information about every builder of apartment complexes and their products.
Brands
Every city has apartment complexes that are built by local developers. In today’s world, people are on the move, being transferred from city to city. When this occurs, most people look for the familiar to help adjust to new surroundings. Developers such as Post Properties, whose apartment designs are unique and their price range is affordable, ranks in the top 50 of developers/management.