Slowing Rent Growth Hits Apartments, But Investors Have Not Lost Interest
January 9, 2023 | Bendix Anderson | WealthManagement.com
There are still a lot of reasons to invest in apartment properties—despite uncertainties and surprises both in apartment markets and the larger U.S. economy.
Net demand for apartments ended in negative territory for calendar 2022, according to Real Page. The primary culprit is turnover was at historically low levels. Renters largely stayed put amid the broader economic uncertainty and inflation in 2022.
According to RealPage, new -lease apartment rents fell in December for the fourth consecutive month, dropping 0.4 percent. Overall, there was a cumulative 1.6 drop in rents since September.
