Jun 24, 2021
Chief Economist Greg Willett
gives us the latest updates on rents, vacancy, & cap-rates.
Throughout the country many apartment renters are going to need
deeper pockets. After a slowdown during the early days of the
pandemic, rents are rising again; the biggest such increase since
2016. Nationwide, average apartment rents were up 4.2% last month
from May 2020 levels. In Phoenix apartment rents were almost 16%
higher year-over-year, and rents rose at an annual rate of almost
15% in Riverside, Calif. Gateway cities, like New York and San
Francisco have not been successful in moving rents up and are well
below pre-pandemic norms.
Are you interested in learning more about how Multifamily
Syndications work? Please visit www.spiadvisory.com to learn more
about Michael Becker’s Real Estate Syndication business with SPI
Advisory LLC.
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