For years, renting in the suburbs meant shelling out less than city rents. However, recent data indicates that this traditional disparity is lessening, leading many to wonder why.
Market Trends
A rising number of the super-rich are placing their bets on the US rental market as falling prices in the apartment sector make it increasingly attractive.
This year sees a marked decline in new apartment construction, attributed to elevated interest rates, reduced rents, and overbuilding worries in select regions.
The multifamily sector faces a complex supply challenge, with abundant ongoing development and varied implications across different locations and property types.
National supply-demand imbalances in multifamily housing affect pricing, leading to varied rent changes in different metro areas over the year.
With strong fundamentals, new construction starts, and a sizable amount of capital on the sidelines, the multifamily sector is attracting the attention of eager investors.