Bendix Anderson

The challenge is finding properties that have not already been renovated.

Fannie Mae and Freddie Mac have both announced programs that provide long-term financing at competitive interest rates to help investors refinance and acquire SFR properties.

Though the terms are getting tougher, banks continue to put more money into apartment construction.

Fannie Mae and Freddie Mac held 37 percent ($467 billion) of all mortgages on multifamily properties outstanding as of Sept. 30, 2017, according the Federal Reserve data.

There is likely to be a pool of over 30 million college-age people every year for decades to come.

Developers are making room for amenities like dog runs and swimming pools—sometimes on the rooftops of urban high-rise towers.

The cost of materials important to the construction of apartments rose 3.6 percent over the year that ended in September, according to the producer price index from the Bureau of Labor Statistics.

Many renters have already been pushed to the limit financially. Another rent hike could force them to move out.