Boom In $1.3 Trillion Apartment Industry Translates To Job Opportunities

Perhaps it is because of the fall of the housing market, or maybe it is because people don’t want the trouble associated with owning a property and, sometimes, living in apartments is the only option, but 1.1 million households chose apartment living over the past four years. This growth does not only affect the housing industry, but it also makes a big impact on the economy. The U.S. Department of Labor reports that this translates into a huge demand for qualified people for job opportunities in this $1.3 trillion industry.

About 38 million people live in apartments, and that number is expected to rise by another 7 million by the end of the decade. This growth leads toward the creation of new industries such as coffee shops, restaurants, supermarkets, and other businesses that will benefit from this growth.

However, there are more than 12 million jobs directly related to the apartment industry, including leasing, management, construction, maintenance, operations, and skilled trades. This boom means that there should be about 11,000 new property management positions available every year, according to the U.S. Department of Labor. And people who are interested can receive training through the National Apartment Association Education Institute.

“The National Apartment Association Education Institute is focused on providing educational opportunities and career outreach and promotion opportunities to the industry and we are looking to cultivate new talent for the industry,” said Stephanie Puryear Helling, President of the National Apartment Association Education Institute and Senior Director of Operations for Real Estate Strategic Services.

She added that “Forbes ranks property management professionals as the second out of 20 most satisfying jobs in America.”

More people are choosing apartment living for a variety of factors, including cost effectiveness, convenience, walkability, work-life balance, and urban revival. And people are choosing to live in apartment communities because of the many possible amenities such as maintenance-free living, fitness centers, valet trash pick-up, concierge services such as package delivery, and business centers.

More apartments for rent. [Image by dcsliminky/iStock]

Stephanie Puryear Helling and Jeremy Lawson from Fogelman Management Group spoke with Michelle Tompkins for the Inquisitr about the reasons for this housing shift, what kinds of job opportunities are available in the apartment industry, how this benefits the economy directly and indirectly, how to get training for positions in this industry, how to get the best deals when finding an apartment, how apartment living offers a greater work-life balance, and more.

Find the entire interview below

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