2023 Could be Year Apartment Owners Compete for Renters
Although rent crept up 0.3 percent in February after five months of declines, property owners might have to do more to attract renters this year. A report from Apartment List says the last time there were this many units in the pipeline was the 1970s, and vacancies have hit 6.4 percent. Year-over-year rent growth is at 3 percent and is likely to slow down even more, according to the report, but an article on this same website the same day also touts “Why Multifamily’s Outlook is Good,” so this isn’t the full picture.
