Renters Contribute To Inland Empire Economy

Apartment BuildingNew Focus On Renters In The Inland Empire

It is no surprise that the Inland Empire is one of Southern California’s fastest growing economies in recent times, but did you know that we can thank renters for a good chunk of this growth? Since the Great Recession, Southern California regions have tried to return to pre-recession numbers, but the Inland Empire has shown its royalty in this category.

According to the National Apartment Association (NAA) and the National Multifamily Housing Council (NMHC), apartment renters have contributed $5.2 billion to the Inland Empire economy. With apartment businesses supporting over 45,000 jobs, it is evident that the apartment industry is flourishing in this region.

While you may be inclined to view these findings as insignificant, these numbers show that renters are regaining the full value of what they are contributing to the overall regional economy. Unlike large metropolitan cities, such as Los Angeles, renters in the Inland Empire are deemed just as important as homeowners when it comes to the overall economy.

Experts say the reason why renters contribute to the Inland Empire economy may be because individuals are still fearful of homeownership since the Great Recession. These extreme numbers are likely a result of those looking to rent as opposed to take the scarier route of homeownership. Due to this newer market trend, one company that builds and manages Inland Empire apartment complexes, Lewis Group of Companies, is focusing on taking advantage of the opportunity to continue exponential growth in the Inland Empire.

Contact Professional Land Corporation if you want to learn more about high quality land for sale in the Inland Empire’s Victor Valley, Antelope Valley, or the Southern California surrounding areas. Professional Land Corporation has prime residential, commercial, apartment, and industrial zoned land parcels available with affordable down payments and excellent long-term financing options.

Translate »