RentCafe, Santa Barbara, Calif., analyzed the competitive state of the rental market, finding that Miami has retained its position as the most competitive rental market, followed by suburban Chicago and northern New Jersey.
Tag: RentCafe
RentCafe: New Apartment Sizes Are Rebounding
RentCafe, Santa Barbara, Calif., found the average new U.S. apartment size increased by 27 square feet in 2023, up to 916 square feet.
RentCafe: Adaptive Reuse Projects Increase, With Hotels Popular in 2023
RentCafe, Santa Barbara, Calif., found adaptive reuse projects grew last year. There were 17.6% more apartments converted from outdated buildings in 2023 compared with 2022.
RentCafe: Build-to-Rent Housing Continues Boom
RentCafe, Santa Barbara, Calif., reported 27,500 build-to-rent homes were completed in 2023. That’s a 75% increase from 2022.
Gen Z to Spend $145,000 on Rent by 30, RentCafe Finds
An average member of Generation Z will spend $145,000 on rent by their 30th birthday, RentCafe, Santa Barbara, Calif., found, noting millennials spent $127,000 during that period of their lives (14% less).
Miami No. 1 Rental Market, RentCafe Finds
RentCafe, Santa Barbara, Calif., compiled a report on the hottest rental markets for the beginning of 2024, finding Miami takes the top spot, but many markets in the Midwest are also popular.
Completion of Build-to-Rent Homes Hit New High in 2022
RentCafe, Santa Barbara, Calif., reported construction of new build-to-rent single-family homes hit a high in 2022, with 14,541 completed.
RentCafe: Multifamily Boosts Self-Storage Sector
RentCafe, Santa Barbara, Calif., reported self-storage development is being spurred by new apartments coming online all across the country.
Adaptive Reuse Apartments Up 25% from Pre-Pandemic Numbers
Adaptive reuse apartments–other property types converted into apartments–have jumped 25% compared to pre-pandemic levels, reported RentCafe, Santa Barbara, Calif.
Multifamily Completions Jump; Rents Stall
Yardi Matrix, Santa Barbara, Calif., said multifamily construction reached a 50-year high, with 420,000 new apartments expected to deliver nationwide this year.