Morrison Avenue Capital Partners’ Post

In the US, 1.6 million new apartments were built between 2020-2023. Another 1 million+ expected between 2024-2025. We're going through a similar dynamic, more purpose built rentals have come onto the market and more are coming. The increased supply will put a downward pressure on asking rents. How will it affect secondary market rentals? Agree or disagree? #newapartments #realestate #builtrentals #secondarymarket https://lnkd.in/gwnphvcH

“How much does it cost to rent in the US?” is a common question I get asked for those planning a move to the US, and the simple response is always: Where are you moving? New York City is nothing like rural Illinois, and it's not even the same as central Chicago, so understanding the rental landscape and how it varies across the nation is very important. It's also crucial when you set out so that you understand what kind of budgets you should consider from the outset. Know your budget:

More than one million new rental units have appeared across the country since 2018. According to data by Yardi Matrix, U.S cities have more new apartment options than they have in decades. Helped by new construction, certain neighborhoods are turning into hotspots for young, high-earning individuals to start their lives. To determine which neighborhoods benefited the most from new construction, Rent Café looked at the 50 largest cities across America. Click through for the full list. #Atlantarealestate #realestate #AtlantaRealtors #Atlantahousingmarket #Atlantahousing

More than one million new rental units have appeared across the country since 2018. According to data by Yardi Matrix, US cities have more new apartment options than they have in decades. Helped by new construction, certain neighborhoods are turning into hotspots for young, high-earning individuals to start their lives. To determine which neighborhoods benefited the most from new construction, Rent Café looked at the 50 largest cities across America. #Seattlerealestate #uscities #apartments #realestate

🏡 Exploring Popular Apartment Markets: A Rental Overview 🌐 As renters seek affordability and new opportunities, smaller cities and the Midwest are gaining traction according to an article posted today on GlobeSt.com looking at data from RentCafe.com. 🌆 Midwest Shines: * Seven Midwestern cities rank among the top 20 rental markets in 2024. * Milwaukee outshines with an impressive Rental Competitiveness Index (RCI) of 87. 💸 Cost-Effectiveness and More: * Midwest, shedding the 'Rust Belt' image, offers affordability and thriving tech and manufacturing sectors. * Cost advantage allows renters to save for homeownership, boosted by remote work options. 📊 Occupancy Challenges: * High demand results in a short turnaround time for rentals in Midwestern cities. * Occupancy rates range from 93.3% (Kansas City) to 95.1% (Milwaukee). 🏙️ Urban Revitalization in Milwaukee: * Milwaukee attracts young professionals through revitalization efforts. * Limited new construction (0.53%) prompts 72.3% lease renewals. 🚀 National Trends: * Central Jersey leads in lease renewals at 79.9%. * Northeast faces surging demand, with North Jersey as the third hottest market (RCI 85.4). ☀️ Miami's Sizzling Market: * Miami dominates with an RCI of 91.9, high occupancy, and quick rentals. * 73.4% lease renewals showcase sustained demand. 🌐 West Coast Dynamics: * Orange County sees a 0.59% increase in new apartments, with 60.1% lease renewals. * Silicon Valley's demand rises due to hybrid work and return-to-office policies. 🎓 College Town Allure: * College towns like Fayetteville, AR, and Lafayette, IN, score high with faculty and students. * Desirable RCIs, quick rentals, and high occupancy rates characterize these markets. 📈 National Overview: * Overall, competition has eased in 61% of large markets and 47% of small markets. * National occupancy rate dips to 93%, but lease renewals increase to 61.5%. https://lnkd.in/gWkXwWiv

More than one million new rental units have appeared across the country since 2018. According to data by Yardi Matrix, U.S cities have more new apartment options than they have in decades. Helped by new construction, certain neighborhoods are turning into hotspots for young, high-earning individuals to start their lives. To determine which neighborhoods benefited the most from new construction, Rent Café looked at the 50 largest cities across America. Click through for the full list. #Atlantarealestate #realestate #AtlantaRealtors #Atlantahousingmarket #Atlantahousing

“How much does it cost to rent in the US?” is a common question I get asked for those planning a move to the US, and the simple response is always: Where are you moving? New York City is nothing like rural Illinois, and it's not even the same as central Chicago, so understanding the rental landscape and how it varies across the nation is very important. It's also crucial when you set out so that you understand what kind of budgets you should consider from the outset. Know your budget:

🏡📊 Navigating the Housing Crunch in Tampa Bay: A Closer Look at the Numbers! 📈🔍 Despite a commendable 0.95% surge in new #apartments, outpacing the national average of 0.6%, Tampa Bay finds itself grappling with an ever-increasing demand for rentals. 🏢💥 🔥 Demand Outpaces Supply: The surge in population and a thriving job market are driving the demand for rental properties. However, the 0.95% increase in new apartments falls short of meeting this demand, leaving many prospective renters in fierce competition. 🔑 Competitive Rental Landscape: In this dynamic market, prospective renters face stiff competition, contending with an average of 10 others to secure a lease. The quest for suitable accommodation has become a race against time. ⏰ Swift Occupancy: With such high demand, unoccupied apartments are snapped up in an impressive 41 days, highlighting the urgency in this market. These statistics underscore the pressing need for creative solutions and collaborative efforts. Developers, policymakers, and community stakeholders must work together to bridge the gap between supply and demand in Tampa Bay's rental market. 💡 It's time to explore innovative approaches to housing, from incentivizing development to reimagining zoning regulations. Let's ignite a conversation on sustainable solutions for our community's housing future! 💬🏠 #TampaBayHousingMarket #RentalDemand #RealEstateStatistics #HousingSolutions #CommunityEngagement #LinkedInPost #RealEstateInsights https://lnkd.in/eaywxvrP

San Diego Takes the Lead as Southern California's Most Competitive Rental Market According to recent reports, San Diego has emerged as the most competitive rental market in Southern California, marking a significant shift from previous years. The city's housing market has experienced a surge in demand, driven by factors such as a growing population and a strong job market. This newfound competitiveness is causing rental prices to rise and making it increasingly challenging for tenants to find affordable housing options. As the rental landscape evolves in San Diego, both renters and landlords are facing new challenges and opportunities in this dynamic market. Stay informed about the latest developments in the San Diego rental market by reading the full article. #SanDiegoRealEstate #RentalMarket #HousingTrends https://lnkd.in/gvVRqBMu

🏡✨ Exploring Prescott's Rental Market: Insights for Landlords and Tenants 🌟 Prescott, Arizona, is a dynamic rental market perfect for both potential landlords and tenants. In 2024, the average rent for a two-bedroom apartment stands at $2,033, showing stable growth. This stability makes Prescott an attractive spot for investors. 📈 For landlords, understanding Arizona’s landlord-tenant laws and the local economic health is crucial. Prescott's economy, bolstered by tourism, healthcare, and retail, ensures a steady stream of renters. Staying informed about rental yields and occupancy rates can help in making profitable investment decisions. 💼 Tenants will find a variety of housing options and relatively stable rent prices. It's important to know your rights under local laws to navigate rental agreements effectively. Evaluating amenities and considering proximity to work, education, and recreational activities can enhance your living experience. 🏘️ Whether you're looking to invest or find a new home, Prescott's rental market offers opportunities for everyone. Stay informed, understand the market trends, and make educated decisions for a successful real estate journey in Prescott. 🌟 Ready to explore Prescott's rental market? Contact us at (928) 696-7000 or email peter@listingprescott.com for expert advice and insights! 📞✉️ #PrescottAZ #RentalMarket #LandlordTips #TenantTips #RealEstate #InvestInPrescott #HomeRentals #ArizonaLiving #RealEstateInvesting #PropertyManagement #RentalProperties #CommunityLiving #PrescottLiving #RealEstateAdvice #HomeSweetHome #ExplorePrescott 🏡✨