The apartment industry flexes its economic muscles
For many people, renting an apartment makes more sense than other living arrangements. That's one message from a recent campaign by the National Apartment Association and the National Multi Housing Council. The campaign included state-by-state statistics on the economic power of apartment dwellers and the publication "Apartments Work: A Policymaker's Guide to Rental Housing."
See weareapartments.org for more details, and check out Minnesota's numbers below.
565,924: The number of apartment residents in Minnesota
$7,122,384,717: Their spending power
364,427: The number of apartment homes in Minnesota
$1,384,095,115: Operation dollars spent
12,941: On-site jobs supported in managing apartments
$177,004,571: Construction dollars spent on apartments
1,273: On-site jobs supported by apartment construction
$18 billion: Total contribution that the overall apartment sector makes to the state economy