With the recovering economy and increased consumer spending, Americans are on the move. Increasingly, those moves are to multifamily properties rather than toward the purchase of single-family homes. Currently, nearly 39 million people live in apartments in the U.S., the demand quickly exceeding supply. The U.S. population is forecast to hit 347.3 million people by 2025—an addition of 25 million or more. The largest living generation is now Millennials, and their prime renter age range (20-34) is not expected to peak until the middle of the next decade.