Rent growth across the office and multifamily sectors are no longer in lockstep, disrupting a lengthy period in which the sectors typically followed the same trend, according to a new analysis from Moody’s Analytics.
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In today’s housing market, future homeowners must compromise to save for a down payment. One way to put aside money for a first home? Give up a little space.
Inflation numbers for July were a pleasant change from the recent pace, with prices flat from June. But as the National Apartment Association noted in its NAA Inflation Tracker: August 2022, things are more complex and the chances of the Fed stopping the upward march of interest rates is unlikely to happen immediately.
Effective asking rents increased by 0.8% from June to July, which represents about one-third of how they performed a year earlier. That moderation was as expected, RealPage said.
Developers in Chicagoland are responding to continued strong demand for multifamily housing and changing consumer expectations.
Preliminary data shows a 440-basis-point annual drop in vacancy within Chicago proper at the end of March. Competition for units here is likely to result in sharp rent climbs this year, especially in locales like Lincoln Park, Ukrainian Village, and Andersonville.