30 Percent of U.S. Markets to Experience Double-Digit Rent Increases in 2022
Based on a recent survey conducted by the National Association of Real Estate, demand for U.S. buildings will remain strong and demand for buildings is expected to increase by 2022, as current prices are expected to increase. to the present desire.
Gay Cororaton, an economist at the National Consumer Association, reported that demand for large rental space remains strong in the fourth quarter (from 19 Oct.), with an increase in rental space for millions. 1.06 won from 2020 Q2. The number of jobs in various households has dropped to 4.6% (6.6% by 2020 Q2) and the number of job-seeking households is 11.4% per annum (1.6% by 2020 Q2).
Texas has two top markets with the largest number of rental buildings used, Dallas (47,182) and Houston (37,117), all accounting for 6% of all construction facilities. In addition to these two markets, the other top markets are around ten New York (34,619); Los Angeles (30 879); Oosigitone, DC (22,436); Atlanta (22 272); Chicago (20,810); Austin (20,443); Seattle (18,481); and Phoenix (16,054). Use within the past 12 months has improved in metro areas that have seen major housing losses by 2020, such as New York, San Francisco, San Jose. and Seattle.
As part of the current phase of the rental facility, a significant increase in the metro area has been the use of fewer than 5,000 homes. Orlando, Florida (8% of total); Austin, Texas (8% of items); Miami (7%); and Charleston (9%).
Double-digit rent growth in a third of metros
The list rises to 2nd to 127 from the 390 metro area to “growth” (more than one million people), “growth” (over 500,000 to 1 million people), “medium” (over 250,000 to 500,000 people), and “small.” market (less than 250,000 people).
In these markets, the Florida metro area leads to the highest rate of wage growth with over 20% (Palm Beach, Orlando, Tampa, Jacksonville, Sarasota, Port St. Lucie, Fort Myers, Naples, and Punta Gorda).
Apartment market rents likely to rise at a strong pace in 2022
Demand for rental housing will remain strong in 2022, as higher mortgage loans meet the demand for affordable housing and increase demand for rent. On the other hand, the number of units currently under construction will increase. Currently, about 650,000 units are under construction, about 75,000 fewer than exits. The cost of this construction is lower than the current 12-month 744,361, which means that the number of occupants will continue to be maintained and rent for housing will continue to rise. 10% more families by 2022.
Thus, the length of the rental market will vary depending on the location of the metro. For example, several metro stations are being built from the current distribution, such as Nashville, Tennessee (14%); Huntsville, Alabama (16%); Santa Fe, Mexico (28%); O Nuu, Florida (32%); Punta Gorda, Florida (21%); and New Bern, North Carolina (14%). These markets have the potential to see a decline in wage growth in 2022 or 2023.