All the signs are pointing to a solid growth in the Multifamily housing market. Rental units are in high demand and rents are growing at a sustainable level. Both are positive signs for developers and investors.
According to Rent Cafe’, 92% of the 253 largest cities in the country saw an increase in rent in March.
The Housing Wire writes in ‘RentCafe’; Rental prices heat up just in time for spring renting season’, “It’s finally spring renting season and while the climate is heating up, data from RentCafe’ indicates national renting prices are as well. According to the company’s recent analysis, the national average rent in March totaled $1,430. Not only is this a 0.3% increase from the previous month, but it is also $44 higher than the same period in 2018.”
Leaders in the industry project by the year 2030, 4.6 million new apartments will be needed to meet the demand.
Whether it is new construction or an existing property, today’s renters expect cutting edge technology. Before you invest in remodeling and upgrades in your multi-family housing, think about the renter and what appeals to them. Smart changes can increase the value of your property. Green’ lifestyle with eco-friendly appliances and windows, green energy, solar roof, attract the new renter
Partnering with a leader in the multi-family construction industry is vital for success.
Job growth and expanding economy have had a positive impact on multi-family housing industry. Cities throughout Florida, Georgia, North and South Carolina, such as Orlando, Atlanta, Tampa, Miami, and Jacksonville are experiencing significant growth. Which means more people and renters who will need new apartments to move into and make their home.
SWET Construction Group bridges the gap between visualizing a concept and making the project reality with cohesive spaces, rooms and designs that flow together both aesthetically and functionally. Whether it’s a new construction or renovation, we make the experience enjoyable by taking you through the process of building and designing, to ensure your project has the look and feel you imagine.