Episode 246 - RENTS ARE UP HUGE in most markets! Apartment Economist Greg Willett has all the answers


Manage episode 295848496 series 1181820
By Paul Peebles and Michael Becker. Discovered by Player FM and our community — copyright is owned by the publisher, not Player FM, and audio is streamed directly from their servers. Hit the Subscribe button to track updates in Player FM, or paste the feed URL into other podcast apps.

Chief Economist Greg Willett gives us the latest updates on rents, vacancy, & cap-rates. Throughout the country many apartment renters are going to need deeper pockets. After a slowdown during the early days of the pandemic, rents are rising again; the biggest such increase since 2016. Nationwide, average apartment rents were up 4.2% last month from May 2020 levels. In Phoenix apartment rents were almost 16% higher year-over-year, and rents rose at an annual rate of almost 15% in Riverside, Calif. Gateway cities, like New York and San Francisco have not been successful in moving rents up and are well below pre-pandemic norms. Are you interested in learning more about how Multifamily Syndications work? Please visit www.spiadvisory.com to learn more about Michael Becker’s Real Estate Syndication business with SPI Advisory LLC. Please leave us a 5 STAR RATING on iTunes; if you enjoyed this podcast.

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