With home ownership remaining an unattainable goal for many, rental property construction is up as more people are renting rather than buying. And with this increase comes opportunity for producers schooled in the process of insuring these units.
Multifamily apartment starts rose 55% in June year-over-year, according to the U.S. Census, and the supply of apartment units remains far lower than demand. Apartment occupancy, meanwhile, hit a near-record high of 95.2%.
For now, insurers are observing an increase in renters and rental-property construction. “Data suggests that there is more multi-family construction,” says Angi Orbann, second vice president, Personal Insurance, at Travelers. “There's a focus on apartments because of demands from the rental population.”
Recommended For You
Want to continue reading?
Become a Free PropertyCasualty360 Digital Reader
Your access to unlimited PropertyCasualty360 content isn’t changing.
Once you are an ALM digital member, you’ll receive:
- Breaking insurance news and analysis, on-site and via our newsletters and custom alerts
- Weekly Insurance Speak podcast featuring exclusive interviews with industry leaders
- Educational webcasts, white papers, and ebooks from industry thought leaders
- Critical converage of the employee benefits and financial advisory markets on our other ALM sites, BenefitsPRO and ThinkAdvisor
Already have an account? Sign In Now
© 2025 ALM Global, LLC, All Rights Reserved. Request academic re-use from www.copyright.com. All other uses, submit a request to [email protected]. For more information visit Asset & Logo Licensing.
