Rents for Multifamily housing is rising at record rates in the Southeastern United States. Increasing. But with this high surge in rents comes the demand for updated construction and amenities.
According to Tampa Bay ABC Action News, “there is not enough housing in Tampa Bay to keep up with the record-high demand.”
Tampa Bay residents are seeing the highest rent surges in the country, according to real estate analytics.
“We’ve never seen this type of growth in Tampa before,” said Jay Lybik, CosStar National Director of Multifamily Analytics. “Tampa Bay is seeing rent growth twice the rate as the nation as a whole.”
The real estate analytics company found monthly prices for rental prices in Tampa Bay spiked 24.8% from July to September. According to Lybik, the rest of the United States saw an 11% increase.
In some areas of St. Petersburg, rent has increased 20% in a single year according to apartment listing site Rent Café. On average across the city, 800 square foot, 1-bedroom apartments are going for nearly $1,700 dollars a month.
With all the construction and renovation companies out there, choosing the right one can be overwhelming. Here are a few things to consider to help in the process:
It is more than just delivering a project within budget and on time, each decision affects the goals of the business, even years after the project is finished.
Even small projects have a lot of moving parts. Coordinating the various parts so they are collectively working together to ensure the project’s goals are delivered successfully.
Every project is unique, the construction group you choose should be able to apply their past experiences they have learned in their past projects. This experience will also ensure your project is completed on time with time saving solutions.
The construction group you choose should always have your best interest in mind. All the decision made should be in line with your priorities.
Partnering with the right construction group will not only keep your construction costs low while achieving a beautiful architectural design, they will ensure your project is a great success by displaying quality traits such as preparedness, flexibility and awareness.
SWET Construction Group takes great pride an integrated approach to design and space planning for positive impacts not only for the building but also for the environment. We offer competitive pricing, innovative practices, clear communications and a trusted partnership. We also provide insights, essential data, news and extensive information to better inform their clients and strengthen their market position.