Washington, D.C. – Today, the Bipartisan Policy Center’s (BPC) Housing Commission released an infographic detailing the intersection of supply and demand in rental housing. Click here to view the infographic.
Increasing demand for rental housing is driven by the needs and preferences of four demographic groups: Baby Boomers, Echo Boomers, former homeowners and recent immigrants. With roughly 5 to 6 million new renter households expected to form over the next ten years, BPC’s Housing Commission is considering how a new housing finance system can best support development of a range of housing options that serve this diverse and changing set of needs and preferences.
BPC’s Housing Commission will release its recommendations for the future of U.S. housing policy in early 2013.
The infographic also defines three factors that contribute to the composition of the rental housing stock: conversion of single family homes, construction of new apartments, and losses due to deterioration or demolition. Single-unit rentals, an often-overlooked segment of the rental housing stock, constitute more than one-third of the available supply. These homes require very different approaches to maintenance and management, and create distinct financing challenges, as compared to large multi-unit buildings.
This is the third in a series of infographics released by BPC’s Housing Commission this year. The first infographic highlighted housing’s impact on the U.S. economy and the second showed how shifting demographics will affect housing in the future.