article thumbnail

Higher-income renters continue to drive what’s getting built and leased in the multifamily sector

BD+C

Starts of buildings with five or more housing units rose from December 2018 through December 2019 by 74.6% At the end of that period, the number of multifamily housing units under construction was up 7.3% to a seasonally adjusted annual rate of 536,000, according to preliminary Census Bureau estimates. to 177,000.

Income 102
article thumbnail

What’s Driving Record Growth in the Rental Market?

Pro Builder

Changing household preferences and a lack of housing affordability post-pandemic caused apartment demand to double at the start of 2022. A record 700,000 apartments were leased last year, more than double the five-year average, while leases in Q1 2022 were double the number reported in Q1 2021, according to John Burns Real Estate Consulting.

Income 97
professionals

Sign Up for our Newsletter

This site is protected by reCAPTCHA and the Google Privacy Policy and Terms of Service apply.

article thumbnail

Apartment Trends Taking Over 2022

Pro Builder

The rental housing industry is evolving to meet post-pandemic demands of tenants as work-from-home opportunities spark a growing desire among many Americans for additional living space and innovative home features. Apartment Trends Taking Over 2022. Tue, 01/18/2022 - 09:56.

Leases 52
article thumbnail

6 guideposts for cities to create equitable transit-oriented developments

BD+C

Multifamily Housing Affordable Housing Office Buildings Retail Centers Shopping Centers Transit Facilities Despite the best efforts of city governments and their transportation departments, transit-oriented-development projects often unintentionally burden existing residents and small businesses in the area.

Austin 95
article thumbnail

Single-Family Rental Prices Jump at the End of 2021

Pro Builder

As sellers take the upper hand in a competitive housing market, landlords are also set to end the year on a high note thanks to a steady increase in new lease effective rents during the final months of 2021. Record-high 18% same-home new lease rent growth. In aggregate the SFR REITs reported in 3Q21: 98% same-home occupancy.

article thumbnail

Demand for Three-Bedroom Rentals on the Rise in a Shifting Market

Pro Builder

Three-bedroom townhomes and apartments both for sale and for rent saw the weakest demand in comparison to two-bedroom units pre-pandemic, but an affordability crisis and the rise of remote work over the past two years shifted housing preferences in favor of additional space, Housing Design Matters reports. One theory is cost.

Leases 52
article thumbnail

Why Build-To-Rent Developments May Be Making Homeownership More Elusive

Pro Builder

First-time homebuyers are struggling to find and afford available starter homes in a high-cost, fast-paced housing market, and rather than waiting for affordability to improve, many are leasing homes in rental-only developments, The Washington Post reports. Build to Rent. Community Development. Build to Rent.

Equity 52