Rental prices in some of the country's largest cities are falling—some by almost 45 percent, according to new data from Five Star Cash Offer, a real estate investment firm that operates as a direct cash homebuyer. The dataset, which includes the top 65 metropolitan areas in the United States, reveals that cities that have recently enacted pro-housing policies have experienced the most significant year-over-year decline in rental prices nationwide.
Posted by justbuildmorehousing
4 Comments
Some of our typical favorites here (Austin, Minneapolis) but I thought the snippets about Florida might’ve been the most interesting part. Yes theyre permitting more in some spots, but you might also wonder if the post-covid bubble is starting to deflate some
> While these rent decreases may be a result of a more deregulated housing industry, other factors could be at play. Florida has been struck in recent years by Hurricanes Ian and Milton, and higher flood insurance premiums could be forcing some homeowners—especially those with second homes—to sell, creating a surplus of available housing. (In March, Sarasota reached an eight-year high for its housing inventory.) Still, Cape Coral and Sarasota are both expecting to see their populations increase in the coming years.
!ping YIMBY
Wow it’s almost like crapitalism works!
Weird that this article points to policies and permitting, and not actual supply coming on the market. Makes me suspect part of this price drop may be demand cooling faster in these markets as the economy slows
Well Minneapolis might be on track to elect a mayor who supports rent control. So enjoy these stats while they last.