Around 2,000 old buildings in the U.S. have been converted into apartments over
Approximately 65 percent of these converted buildings serve middle- and lower-income renters. Specifically, 23 percent have units priced for lower-income residents, while 42 percent serve middle-income Americans, according to RENTCafe. Hotel conversions made up the largest share of affordable apartments at 86 percent, followed by former school buildings. Around 79 percent of repurposed healthcare buildings also ended up as affordable rentals.
Chicago is the top market for multifamily adaptive ruse projects, with about 91 buildings and 14,167 apartment units. Philadelphia is in second place, with 85 converted buildings and 11,266 units. Third is Los Angeles, with 74 buildings and 10,569 units.
Here are the top 10 apartment conversion types in the U.S., according to the RENTCafe report.

