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Multi-Family Homes are in Huge Demand in Greater Boston

You keep hearing about it, and if you are in the market for an investment property then you are living it. New home inventory, both single and multi-family is woefully low. Many of the homes that are available for sale are inadequate, or not what you are looking for. Here are the facts.

  • Up to 435,000 new housing home would need to be created in the Metro Boston area by the year 2040 to keep the region's economy growing.
  • The units would comprise mostly multifamily homes and be located, primarily, in urban areas
  • The aim of the additional units is to attract younger workers to the region from elsewhere in the country to keep the economy growing in the Greater Boston area.
  • The 435,000 new units are greater than the 305,000 new units needed in a "status quo" scenario
  • Attracting more young people to the region with the kinds of housing they prefer could potentially result in a "stronger region" with a total population increase of 12.6%.

As you know the real estate market has rebounded recently. That rebound has been mostly driven by real estate investors who are buying up inventory for rental and investment properties. If you are a real estate investor, or if you are interested in becoming an investor, consider modular multi-family home construction.

There is a significant need for new multi-family housing if we want to attract young people and families and grow our population in the Boston area. In fact, multifamily housing, both for-sale and rental units, will make up at least 48% and as much as 62% of demand. And, even in suburban municipalities, demand for multifamily units will make up between 28% and 37% of total demand.

Right now the market and need for multi-family housing is huge and growing. Modular construction for multi-family homes ensures high quality, faster construction that meets and exceeds state and local building codes.

For more information on multi-family modular homes for investment properties, contact Avalon Building Systems.

Statistics from the Metropolitan Area Planning Council (MAPC) Report

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