Industry insights, market outlook reports and commercial real estate
news, and trends from the Coldwell
Banker Commercial brand.
Examining RentCafe's market insight report reveals renter online activity to identify the top in-demand cities for apartments. The Midwest dominated with 11 cities in RentCafe’s ranking, with five in the top 10.
The U.S. is facing a potential loss of nearly 200,000 affordable housing units in the next five years as government protections expire for hundreds of rental properties, allowing landlords to set their own rents, highlighted by The Wall Street Journal.
The once rapid growth of apartment rent has decelerated and is even declining in certain areas. However, within the struggling commercial real estate industry, there is a rare positive aspect seen in housing aimed at college students attending popular universities.
With soaring home prices and the peak rental season in full swing, renting has emerged as the contemporary alternative to buying. However, among the cities experiencing heightened listing activity, which ones draw the greatest attention from apartment seekers?
The primary contributor to the increasing cost of living for Americans are expenses associated with rent and mortgages, making it important to consider which cities offer the powerful combination of affordability and quality of life in 2023.
As home prices soar, the desire to rent has become increasingly prominent, reflected in a surge in demand for apartments. According to RentCafe, certain cities are experiencing a significant uptick in listing activity and attracting considerable attention from prospective apartment hunters.
The effects of inflation are being felt across the country – especially by those wanting to buy a home. With consumer prices rising, home prices soaring, and rising interest rates, saving money to buy a home and being able to afford one is becoming increasingly challenging.
Renting has bloomed as a preferred option over buying due to soaring home prices and the start of the spring season, leading to a surge in apartment seekers. The CBC team is taking a closer look at which cities are experiencing the most rental activity and capturing the attention of potential renters.
Several downtown areas like Chicago, Cleveland, and Philadelphia have excess office space and insufficient housing to meet growing residential demand. Thus, developers have a solid opportunity to give new life and purpose to an old building with nearby restaurants, retail, and strong employment.
Adaptive reuse apartments have recently become a popular subject of discussion as US office sales continue to sink. Over the past few decades, vacant office buildings have been redeveloped into residential buildings.