NEW YORK CITY — Berkadia’s newly released 2022 Mid-Year Powerhouse Poll reveals that the multifamily market continues to experience increased demand among investors and renters despite rising rents and interest rates. The survey respondents included 123 Berkadia investment sales agents and mortgage bankers across 65 offices, 80 percent of whom reported that they expect multifamily rental demand to continue to outpace supply for the remainder of 2022. The survey was conducted in July. Nearly 80 percent of Berkadia mortgage bankers and investment agents responded that millennials, persons born roughly between 1981 and 1996, are likely to be the generation that will make up the highest percentage of multifamily renters in the next one to two years. An even greater percentage of Berkadia professionals in the Western region (88 percent) report that the majority of their current renters are millennials. The survey results also revealed that baby boomers tend to rent single-family rental/build-for-rent (SFR/BFR) housing most commonly, while Gen Z typically rent workforce housing. Seventy-two percent of advisors reported that, besides cost, location is most important to renters today. While movement away from metropolitan areas continues — a trend made popular during the COVID-19 pandemic as renters sought more space — 59 percent of …
