Slowing demand and the continued strength of new construction and the rental markets remain extremely tight and actually middle-income households are cost-burdened renters. The shift has pointedly changed the profile of the typical renter household.  Renting has also become much more common among the age groups and family types traditionally more likely to own their housing. According to Public opinion, surveys specify that renters are satisfied with their current housing situations but still have a wish to own homes and surveys also indicated affordability as a major barrier to homeownership. A remarkable uptrend in rental housing in the year 2012 and 2017.

Strong operating performance has propelled nominal apartment prices to new heights, up 150 percent between 2010 and the third quarter of 2019. But price gains did slow from 12.6 percent in mid-2018 to 7.6 percent in mid-2019—the first time in eight years that growth dipped below 8.0 percent. Nominal prices in a few major markets, such as Houston, Minneapolis, and Seattle, actually declined year over year amid weakening demand. Even so, high property valuations and low interest rates continue to fuel multifamily financing activity. With interest rates edging down again in 2019, the multifamily mortgage originations index rose 16 percent year over year in the third quarter. According to MBA data, multifamily mortgage debt outstanding was at a new high of $1.5 trillion at that time.