Increases in softwood lumber prices have raised the average rent apartment tenants would pay on new construction between April 17, 2020 and July 8, 2021 by $92 per month and $9,990 to the market value of a new rental unit, according to a new report by the National Association of Home Builders.
The increase is somewhat less than the April 2020-April 2021 of $119 monthly NAHB reported three months ago.
The trade group noted the total cost to a builder for all the softwood lumber products going into a home was $5,940 for the products in an average multifamily home Random Lengths reported on April 17 of this year.
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