Tuesday, October 27, 2020

Tag: Most Expensive Rental Markets Unwind

Hottest, Most Expensive Rental Markets Unwind

by Wolf Richter, Wolf Street:

But apartment rents in 10 other cities surge 10% to 15%.

In the most expensive US markets, apartment rents hit a ceiling some time ago, in some cases four years ago, and have dropped from those highs, as tenants have reached their limit. That this wasn’t a brief fluke, after which rents would surge again in those markets, is becoming increasingly apparent. At the same time, sharp rent increases have moved down to less expensive markets.