Despite the worst economy in a generation, the contributions of multifamily rental housing to national, state and local economies have remained a positive, lasting power. Research to quantify apartments’ important and sustained economic contributions is now available in “The Trillion Dollar Apartment Industry,” published by the National Apartment Association and the National Multi Housing Council.
The combined spending by the apartment industry and its residents generated an economic contribution of $1.1 trillion to the national economy and supported 25.4 million jobs in 2011.
With this information, industry stakeholders and federal, state and local officials can better estimate the substantial, sustained contribution apartments make to their communities and the nation as a whole.
In conjunction with the report’s release, NAA and NMHC have created a new website to promote the industry: www.WeAreApartments.org. The site features an interactive map that allows you to view, download and print the economic impact of apartments in all 50 states plus the 12 metro areas studied.
The website features ACE, the Apartment Community Estimator. This calculator allows users to enter the number of apartment homes of an existing or proposed community to determine the potential economic impact within a particular state.
The economic impact report and joint website kick off NAA and NMHC’s major national public relations campaign in 2013. The campaign's goal is to ease the legislative and regulatory environment for our industry by communicating apartments’ many benefits to Americans and to the communities in which they live.
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“The Trillion Dollar Apartment Industry” Webinar
(NAA member login required)
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To request permission to reprint "The Trillion Dollar Apartment Industry" article in the February issue of units Magazine, contact Carole Roper.
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