Rents... A growing supply of new multifamily homes in the US has been met with a slowing of rent increases. Construction of new apartments reached around 400,000 units in 2017, leading landlords to limit increases and offer other incentives to tenants. As a result, average rents for apartments rose 2.5% in 2017, well below the peak of 5.2% recorded in 2015. The rental market is also facing challenges from rising interest rates on mortgages as well as higher rents. By the end of 2017, only Sacramento had an increase of more than 6%.
A growing supply of new multifamily homes in the US has been met with a slowing of rent increases. Construction of new apartments reached around 400,000 units in 2017, leading landlords to limit increases and offer other incentives to tenants. As a result, average rents for apartments rose 2.5% in 2017, well below the peak of 5.2% recorded in 2015. The rental market is also facing challenges from rising interest rates on mortgages as well as higher rents. By the end of 2017, only Sacramento had an increase of more than 6%.