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Tag Archives: apartments

As Home Prices Rise, so Do Rents

With home prices rising, first-time buyers are looking towards renting as a more affordable option. As the demand for rentals rises, a report found that rents in some cities rose faster than the others. Which were these metros and what other factors impacted rents?

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Tight Inventory Drives Apartment Demand Sky-high

As housing inventory continues to tighten, would-be homeowners are being driven toward renting—and the apartment market is struggling to keep up. According to a new study, the U.S. will need 4.6 million new apartments by 2030 in order to keep up with demand—or 325,000 every year. About 1 million new renter households were formed every year over the last five years. This steep jump is caused, in large part, by consumers delaying housing purchases. Aging and changes in consumer sentiment have also played a role, according to experts.

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