The Sunbelt has experienced a renewed surge in apartment demand this year after a supply and demand mismatch caused vacancy rates to climb over the past two years. With a significant decline in new construction starts this year, the region is poised for future growth, according to a multifamily report by American Landmark.
Southern markets continue to attract residents and businesses thanks to its favorable climate, economic opportunities and job growth, as well as a business-friendly environment, lower taxes and overall lower cost of living than in other regions of the country. These factors are fueling steady demand for rental properties as people seek accessible and flexible housing options as they follow job opportunities.
Want to continue reading?
Become a Free ALM Digital Reader.
Once you are an ALM Digital Member, you’ll receive:
- Breaking commercial real estate news and analysis, on-site and via our newsletters and custom alerts
- Educational webcasts, white papers, and ebooks from industry thought leaders
- Critical coverage of the property casualty insurance and financial advisory markets on our other ALM sites, PropertyCasualty360 and ThinkAdvisor
Already have an account? Sign In Now
*May exclude premium content© 2024 ALM Global, LLC, All Rights Reserved. Request academic re-use from www.copyright.com. All other uses, submit a request to [email protected]. For more information visit Asset & Logo Licensing.
