from the well-known options like apartments and condominiums to students housing and mixed use developments. • Multifamily housing in today’s market reflects residents desires – it often contains a home gym, smart/green technology, and inviting outdoor space. Source: Multifamily Housing (https://www.nahb.org/other/consumer-resources/types-of- home-construction/Multifamily) ( National Association of Home Builders ) From young families just starting out to empty-nesters looking to downsize, multifamily homes are an increasingly popular option for U.S. households. According to a 2019 survey conducted by the American Housing Survey and the U.S. Census Bureau, approximately 43.9 million residences, or 31.4% of housing in the U.S. today, are multifamily. These spaces include apartment buildings, condominiums, townhouses and mixed-use developments. What distinguishes an apartment is the method of ownership: Apartment developments are typically owned by a single entity, with each unit rented out to residents. Apartments can be some of the most affordable places to live and are a great resource of affordable housing for many, but they can also be upscale and luxurious with amenities like community pools, theatres, exercise facilities, gardens, or game rooms. Condominiums The ownership of a condominium is divided by each unit — condos are bought individually with buyers sharing ownership of communal spaces. Because of this, condos tend to be built to appeal to a buyer’s market. Typically, condominium communities are built with a specific lifestyle focus such as Types of Multifamily Homes Apartments
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