By KIMBERLEY HAAS Recent surges in immigration have pushed demand for rental housing and the effects will be felt for years to come. During a recent webinar, Eric Finnigan, vice president of demographics research at John Burns Research and Consulting, said that they are tracking data from the Congressional Budget Office, and immigrants with pending…
By KIMBERLEY HAAS A Fannie Mae program designed to help build the credit scores of renters is finding success. Launched in September, the Multifamily Positive Rent Payment Reporting pilot program allows property owners to share timely rent payment data with the three major credit bureaus. The goal is to accelerate the adoption of rent payment…
Housing construction rebounded by more than expected in February, led by a surge in multifamily projects. New U.S. home construction rose for the first time in six months, according to data from the U.S. Census Bureau. Residential starts increased by 9.8% from January to an annualized rate of 1.45 million. This greatly exceeds estimates from…
Members of Gen Z and Millenials are seeing their personal inflation rates cool as rent prices moderate. These demographics have lower personal inflation rates than the overall population for the first time in two years, according to a new CPI analysis from Redfin. Gen Zers and Millennials who signed a new lease in December saw…
Rent prices are easing in most American cities thanks to a boost in available units. Sixty-eight of the country’s largest metros saw month-over-month rent declines in October, according to researchers at Florida Atlantic University and two other schools. The average rental rate was $2,040, down 0.9% from September. Springfield, MA, Austin, TX, Seattle, and New…
By KIMBERLEY HAAS The vice president of research at the National Multifamily Housing Council says 4.3 million new apartments will be needed by 2035 to meet demand. Caitlin Walter spoke at the National Association of Real Estate Editors conference on October 13. She is primarily responsible for conducting NMHC’s research on apartment industry trends, according…
By CHUCK GREEN Portsmouth, New Hampshire. Is it the place to be? Why not? Portsmouth’s a medium size coastal city with 22,277 residents as of July 1, 2021, according to the U.S. Census Bureau. The city’s rife with attractions including a new jazz club, theaters, restaurants, overall safety, outdoor living, and the school district has…
California and Florida metros collectively account for 80% of the top 10 highest average rents across the country, forcing Americans to look to the middle of the country for affordable rentals. That’s according to HouseCanary’s first National Rental Report, which compares listings volumes, new listings, and median listing price information on single-family detached listings from…
Florida has taken the top spot as the most sought-after area for renters in 2022, according to new research from RentCafe. RentCafe looked at the 100 largest U.S. markets and analyzed data such as the number of days a rental sat vacant, the percentage of occupied apartments, and how many renters competed for apartments. South…
Rents posted another double-digit gain in February, rising 13.1% YOY, according to CoreLogic’s Single-Family Rent Index. They are now at their highest level in the history of the index. The largest price increases were in warm areas of the country as Americans keep moving to Sun Belt states. Miami saw a spike of 39.5% from…
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