As job growth returned, the pressure on residential rental rates was positive in each of the 50 largest markets in the U.S. in 2012, according to MPF Research, as published in MultiFamily Executive. There are many other factors, however, impacting demand and ultimately rents: unemployment rates, local inventory of multifamily and single family for-rent properties, changes in income, new construction, and home prices, to name a few.
So who were the best and the least?
These rental rate increases, while the typical number for each city, vary within each market by location and property type.
With regards to potential overbuilding, the article notes that markets such as Washington, D.C., with rental rate increases of less than 1 percent, are seeing the results of recent-overbuilding.
To read the entire article, click http://www.multifamilyexecutive.com/rents/the-best-and-worst-rent-growth-markets-this-year.aspx?utm_source=newsletter&utm_content=jump&utm_medium=email&utm_campaign=MFEBU_082913&day=2013-08-29
Rising rents are yet another signal of a growing real estate market—but be on the lookout for potential overbuilding in some locales. When Mae West said “too much of a good thing is wonderful,” she was not referring to the supply of real estate.
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