Apartment Industry & Its Residents Contribute $3.4 Trillion to the National EconomyA new Hoyt Advisory Study commissioned by the National Apartment Association (NAA) and National Multifamily Housing Council (NMHC) reveals that the apartment/multifamily industry and its residents annually contribute more than $3.4 trillion to the national economy. The new report, available at WeAreApartments.org, provides a detailed breakout of the economic impact nationally, by state, and in 50 metro areas. New data show how different aspects of the apartment industry positively impact national, state and local economies. Resident spending contributes $3.0 trillion to the U.S. economy, while operations adds $175.2 billion. New construction contributes $150.1 billion and renovation and repair adds $68.8 billion.
Find out what apartments contribute to the National, State and local level by viewing this newly published report.For direct access to the Nashville MSA Data, follow this link (includes Nashville-Davidson-Murfreesboro-Franklin): https://weareapartments.org/data/Nashville
Nashville apartments and their residents contribute $18.3B to the metro economy annually, supporting 86.3K jobs.