Apartment demand rebounded in the nation’s gateway markets in the 2nd quarter, after fundamentals in these regions suffered throughout much of the past year.
Tag Archives: Apartment Demand
Market Trends
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One year later, key stats for the apartment market are in much better shape than what was initially feared back in March 2020.
After apartment leasing slowed drastically in the spring and early summer of 2020, due to the COVID-19 pandemic, demand rebounded in the last half of the year.
Tenants are moving to the suburbs in droves, according to CoStar’s latest apartment report, and downtown landlords are cutting rents.
Across the nation demand for apartments is now at a five-year high, a consequence of slow home sales and economic uncertainty.
The spread between owning and renting will weigh on single-family sales as the monthly mortgage payment for a median-priced home is now $339 more than the average monthly rent for an apartment, the highest spread since 2008