News & Trends

This department of Rental Housing Journal is dedicating to keeping apartment owners, multifamily executives, real estate investors, landlords and other real estate professionals up to date with the latest trends in real estate, property management and more. Here you will find trends in rents, real estate sales, apartment development, the economy at large and property management and investing industry matters.

real estate market trends
Thu
05
Apr
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Salt Lake City Apartment Complex Wins Development of the Year

Salt Lake City Apartment Complex Wins Development of the Year

A Salt Lake City apartment complex has won the development of the year award from the Utah Apartment Association, according to a release.

Alta Gateway Station, a project of Wood Partners, a leader in real estate development and construction, won the award.

“I am ecstatic that our first project in Utah is being recognized for our thoughtful design and best-in-class service that Wood Partners is known for,” Director for Wood Partners Tim McEntee said in the release.

“I grew up in Utah and am a graduate of the University of Utah. I have pursued development opportunities in the Salt Lake City market for almost 25 years and seen the tremendous growth and change,” McEntee said.

Mon
02
Apr
The Editors's picture

Fast Rising Rents In Tacoma, Reno And Phoenix

Fast Rising Rents In Tacoma, Reno And Phoenix

Rising rents are showing up in the national average as rent hit $1,371 in March 2018, up 2.5% year-over-year, following a 14-month growth plateau, according to RentCafe.

No sign of spring yet in the apartment market, as the national average rent continues its sluggish under 3% growth year-over-year for the 14th month straight, according to the release.

 The national average rent increased by 2.5% in March compared to the same time last year, reaching $1,371/month. Month-over-month, national rents showed a more visible 0.3% increase, or $4, compared to the previous month.

Tue
27
Mar
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Seattle City Council Halts Online Rent Bidding Apps

Seattle City Council Halts Online Rent Bidding Apps

The Seattle City Council in an 8-0 vote has put a moratorium on the use of rent bidding apps for rental housing in Seattle until the council can study the impact of the technology, according to a release.

Startups like Rentberry allow landlords to list rental units so that would-be tenants can offer higher or lower prices, based on what they would be willing to pay. The sites take a percentage of the difference. Operators of these rental auction sites claim supply and demand already affect rent prices and that their services just make the process more transparent, according to reports.

Tue
27
Mar
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Renters Feelings About Buying Diminish As Rates Climb Amid Tight Inventory

Renters Feelings About Buying Diminish As Rates Climb Amid Tight Inventory

There should be a continued good pool of renters for landlords as new research shows many renters feel now is not a good time to buy a home, as interest rates climb and the tight supply of homes for sale continues.

Renters and rent payments are going to continue to grow as renters spent a record $485.6 billion in 2017, an increase of $4.9 billion from 2016, according to Zillow research.

New consumer findings from the National Association of Realtors (NAR) show that while a growing share of households feel more confident about the economy and their financial situation, those positive feelings are not translating to positive views that now is a good time to buy a home.

Mon
26
Mar
The Editors's picture

Millennials Spend About 45 Percent Of Income On Rent Before Age 30

Millennials Spend About 45 Percent Of Income On Rent Before Age 30

A new study based on Census data shows that millennials spend about 45 percent of their income on rent before reaching the age of 30, according to Rent Café.

The cost of renting is a huge subject nowadays and a big expense as well, arguably the biggest it’s ever been. People in their 20s starting a life on their own have always faced a lot of challenges. Besides having a low income because of limited work experience, leaving home and paying rent make things even harder, according to Rent Café.

“Analyzing Census data going as far back as 1974, we discovered that rent burden followed an ascending trend over time, making millennials the hardest hit generation. But the future doesn't look too bright for Generation Z either,” the company said in a release.

Mon
26
Mar
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Millennials Spend About 45 Percent Of Income On Rent Before Age 30

Millennials Spend About 45 Percent Of Income On Rent Before Age 30

A new study based on Census data shows that millennials spend about 45 percent of their income on rent before reaching the age of 30, according to Rent Café.

The cost of renting is a huge subject nowadays and a big expense as well, arguably the biggest it’s ever been. People in their 20s starting a life on their own have always faced a lot of challenges. Besides having a low income because of limited work experience, leaving home and paying rent make things even harder, according to Rent Café.

“Analyzing Census data going as far back as 1974, we discovered that rent burden followed an ascending trend over time, making millennials the hardest hit generation. But the future doesn't look too bright for Generation Z either,” the company said in a release.

Thu
15
Mar
The Editors's picture

Utah Company Acquires Two Apartment Communities

Utah Company Acquires Two Apartment Communities

Restore Utah has purchased two apartment communities totaling 76 units, Pine Valley and Pine Cove in Salt Lake County, according to a release.

"We are pleased with the acquisition of Pine Valley and Pine Cove and are optimistic regarding the Salt Lake market because of its expanding population, strong job growth and low unemployment. We now own over 450 multifamily units in and around Salt Lake County and have found great success investing in the Utah economy while delivering quality affordable housing," Jim Schulte, President at Restore Utah, said in the release.

Pine Valley is a 60-unit apartment community that was built in 1970 and offers two bedrooms units. 

Wed
14
Mar
The Editors's picture

Multifamily Rents Remain Steady In February

Multifamily Rents Remain Steady In February

The average multifamily rent in the U.S. rose $1 to $1,364 in February, a 2.7% year-over-year increase, according to the Yardi Matrix Multifamily monthly report for February and survey of 121 markets. 

“The deceleration was expected, coming after a long period of above-trend growth and just as deliveries were reaching a cycle peak,” the report says. “We forecast a slowdown, so growth of 2.7% is not surprising. Nor is it something to be disappointed with, since it is very close to the long-term average.”

Fri
09
Mar
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Renters Can Cut Expenses And Save $650 A Month With Roommate

Renters Can Cut Expenses And Save $650 A Month With Roommate

Renters save $650 a month, more than $1,000 if they live in San Francisco or Los Angeles, if they move in with a roommate, according to a new survey.

Nationwide, a renter living alone in a one-bedroom apartment can expect to spend about $1,486 per month on rent. The median rent for a two-bedroom apartment is $1,650, which means two roommates splitting a two-bedroom apartment can each expect to spend $825 a month on rent, saving $661 a month, according to the analysis from HotPads®.

Wed
07
Mar
The Editors's picture

Sleepless In Seattle: 44% Of Professionals Lose Sleep Over Work Stress

Sleepless In Seattle: 44% Of Professionals Lose Sleep Over Work Stress

Sleepless nights caused by work anxiety are taking a heavy toll on employees, according to a release from a top global staffing firm.

Research shows more than four in 10 professionals, 44 percent, often lose sleep over work, according to a release from staffing firm Accountemps.

"Work stressors can often follow you home, but try to check them at the door," Michael Steinitz, executive director of Accountemps, said in the release. "If you have too much on your plate, schedule time with your manager to discuss possible solutions to alleviate the pressure, such as delegating work to others, adjusting deadlines or bringing in temporary help." 

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