Investing in Multi-family housing and apartments in the Southeastern United States, relies on growth, yield, location, and a specialized construction group. The high return on investment makes multi family housing still one of the hottest investments in the real estate market.
According to Fortune Builder, “Jacksonville, FL: The state of Florida, for the most part, has taken the recovery and run with it. Not surprisingly, some of its biggest cities have led the way, but none more so than Jacksonville, at least in terms of multifamily rent growth. With the first six months of 2016 in the books, Jacksonville’s multifamily market has seen rent growth reach 4.2 percent.”
Miami recently showed an 9% increase in rent for one bedroom apartments, the greatest gain in a study by ABODO called the National Apartment Report. According to Harvard’s Joint Center for Housing Studies, over the past 10 years, those renting apartments in the United States has grown by 9 million. This number keeps rising as the Millennials are moving out on their own.
Sam Radbil, ABODO’s senior communications manager said, “Millennials are renting apartments for longer periods of time than the generations that came before them; housing inventory is tighter; the housing crash has scared a lot of potential homeowners; and one group that many people forget about is now renting—baby boomers. Boomers are downsizing and looking for a more convenient lifestyle in trendier areas of the city. All of these factors are causing a high demand for apartments, which leads to increased rent prices.”
SWET Construction Group
While the future of multi-family housing market is prosperous, there are a few challenges such as the rising cost of building materials and availability of labor. The SWET Construction Group is a premier contractor for multi-family and hospitality industry. We are committed to quality new construction and renovations of existing buildings. We pride ourselves in client satisfaction, delivering the highest efficiency craftsmanship and unmatched expertise and value.