Corporate Housing

What is corporate housing?

Corporate housing is defined as a furnished apartment, condominium or house made available for rent or let on a temporary basis, primarily for 30 days or more. Corporate Housing typically includes the following features: Furniture, full kitchen, private bath, linens, house-wares, electronics and utilities.

Typical corporate housing unit is:

  • Fully furnished and equipped studio, one, two and three bedroom apartments.
  • Well maintained properties providing residential living.
  • Many convenient locations in and around major metropolitan areas.
  • Double the square footage of hotel rooms and suite hotels.
  • More cost-effective for companies for long-term housing needs.

What is the corporate housing industry?

Corporate housing industry is a segment of the lodging industry that provides products, services and support of furnished, temporary housing.

Who is a corporate housing provider?

A corporate housing provider is a business that receives direct compensation for providing corporate housing, as defined.

Size of Industry

History
The corporate housing industry has been a significant growth segment of the lodging industry for the past 20 years.

By the Numbers

  • Total industry revenue was $2.36 Billion in 2009.
  • Average one-bedroom monthly rent is $3,450 ($115/night). .
  • Approximately 61,280 U.S. corporate housing units on an average day.
  • Average stay in corporate housing units is 92 days.

Serving All Industries
Industries served include government, consulting, healthcare, insurance, engineering, relocation, information technology, financial, and many others.

Serving All Needs

  • Business travelers
  • Relocating families
  • Temporary real estate needs
  • Insurance displacement

Source: The Highland Group Corporate Housing Industry Report 2010