As the U.S. economy rebounds from the COVID-19 pandemic, DBRS Morningstar expects multifamily and single-family rentals to remain the fastest-growing segment of the U.S. housing market. From 2000 through 2020, the inventory of combined single-family and multifamily rental units grew by 26.0%, compared with just 21.2% for owner-occupied units, according to the U.S. Census Bureau. Hampered by rising home prices, high debt burdens and wage levels that haven't kept up with inflation, an expanding swath of households are priced out of homeownership, fueling demand for rentals of both single-family homes and multifamily apartments.
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