Apartment Supply Shortage
The U.S. needs to build 4.3 million more apartments by 2035 to meet the demand for rental housing. This includes 600,000 units (total) to fill the shortage from underbuilding after the 2008 financial crisis.
Underproduction of housing has translated to higher housing costs – resulting in a decline of 4.7 million affordable apartments (monthly rents less than $1,000) from 2015-2020.
New Resource
HUD’s Office of Policy Development and Research announced on April 6, 2023, new efforts to arm local practitioners with resources to help them implement strategies that will assist with meeting the Biden Administration’s Housing Supply Apply Plan goal.
New Report
This joint NMHC/Urban Land Institute research report examines the feasibility and potential of repurposing unused and underutilized commercial real estate (CRE) structures—offices, hotels, retail, etc. –into housing to help address the nation’s housing crisis.
Read the reportApartment Demand
NMHC and NAA partnered with Hoyt Advisory Services to identify the demand for apartments through 2035. Read their analysis of the apartment industry.
Read the reportCost of Regulations
NMHC and the National Association of Home Builders (NAHB)'s new research based on a survey of 49 developers across the United States, also examined regulations and other factors that can impact whether development even occurs.
Read the reportToolkit
The Housing Affordability Toolkit helps guide discussions regarding specific housing affordability policies, tools, and incentives. It is divided into six sections and each section delves into a specific component of addressing the affordability challenge.
Featured Resource
Understand the basics of affordable housing policy.
Learn More- New Resource: HUD Announces Research Resources for Boosting Housing Supply
- Consumer Price Index Updates
- A Note From NMHC on the White House Housing Action to Promote Rental Affordability
- Rising Rents? Blame the Supply Shortage
- Everything You Need to Know: How the Biden Administration’s Housing Supply Action Plan Will Impact the Multifamily Industry
- December CPI Rose As Housing Costs Continue to Increase
- Challenges Facing The Apartment Industry
- Rentals Everywhere, but No Place to Live
- Housing Affordability Coalition Letter Calling for Bipartisan Solutions
- Coalition Letter to President Biden Regarding Implementation of Build America, Buy America Act (BABA)
- President’s Council on Housing Affordability Letter
- NMHC and NAA letter to House on Moving Forward Act
- NMHC and NAA Letter to House to Support YIMBY Act - March 2020
- James Schloemer Testifies on the Cost of Regulations on Affordable Housing (9/5/2018)
- Sue Ansel Testifies on Behalf of NMHC/NAA Regarding the Cost of Regulations on Affordable Housing (9/5/2018)
- SFC Workforce Hearing Testimony
- New Resource: HUD Announces Research Resources for Boosting Housing Supply
- U.S. Apartment Demand Through 2035
- Harvard University Joint Center for Housing Studies: America’s Rental Housing 2022 Report
- Report: What the US can learn from rental housing markets across the globe
- Webinar: Policies to support stable, affordable rental housing - Lessons from around the world
- U.S. Apartment Demand – A Forward Look
- Housing Affordability: A Message Framework to Address Local Industry Challenges
- Video: How Affordable Housing Is More Than Shelter
