Major apartment markets such as Atlanta and Austin have new properties coming into the market that are not getting an A for affordability, according to Axiometrics’ just-released March 2014 Market Trends Report.
Those new developments are less affordable than they were in the previous cycle, according to a comparison of rent levels for new deliveries. The Axiometrics affordability scale assumes 100% of residents can afford the least expensive apartment’s rent per unit, while the unit with the highest rent per unit is the least affordable in the market.
Read more...Apartment Towers Going Up; So Are Rents
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