New data from RentCafe shows that more than 25 percent of apartment buildings in some U.S. cities are now high-end units.
Visit any urban center in a major U.S. city and you'll see a similar view: cranes dotting the landscape and billboards advertising units in the latest luxury apartment projects. Has the focus on high-end units gotten out of hand?
New research from RentCafe found that luxury rental properties had accounted for 79 percent of all apartment construction in the U.S. And in the 2018 that number has grown to a whopping 87 percent. In many cities, a full 100 percent of projects completed in the first half of the year were upscale units.
Read more...The U.S. Cities Most Flooded with High-End Apartments via NREI