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From CRE Daily: Chicago Surges to #1 in RentCafe’s Hottest Rental Markets, Tying with Miami Chicago’s suburban rental market has skyrocketed, tying with Miami for the top spot on RentCafe’s hottest rental markets list after climbing from 16th place last year. Chicago’s rise: Apartments in suburban Chicago are now being rented within 33 days on average—almost a week faster than the national rate—with occupancy hitting 95.6%. The surge is driven by corporate expansions and relocations, boosting demand and solidifying Chicago’s new #1 ranking. Miami’s slowdown: While still competitive, Miami’s rental market has cooled. Units are now rented in 32 days, slower than last year, and the average number of applicants per apartment has dropped from 25 to 18. Lease renewals have also dipped slightly, from 73% to 71.5%, as new supply outpaces demand. Milwaukee heats up: Milwaukee ranks third on the list with an RCI score of 90.7, thanks to high demand, limited new builds, and affordable rent. Apartments here attract 14 applicants per unit, with a 70% lease renewal rate pushing occupancy to 95.5%. ➥ THE TAKEAWAY Big picture: The rental market is shifting, with the Midwest gaining momentum as renters seek affordability and the Northeast now claiming the most competitive region. Sunbelt cities like Miami are seeing their dominance cool slightly as demand shifts.

Discover the rising trend of single-family rental properties in Birmingham, Alabama. Learn about the benefits, market factors, and why this vibrant city is an ideal location for renters and investors. Explore key FAQs to help you navigate the rental market. https://lnkd.in/eZzzTkTn

Salt Lake City’s rental market is less competitive and finding an apartment is now easier than in other Western cities. A new study from RentCafe examined Yardi Matrix data for 137 markets to create a “market competitive score” based on five metrics: apartment occupancy rates, average days a unit is vacant, the number of prospective renters per vacant unit, how many renters choose to renew their lease, and the number of new apartments built. Salt Lake City’s competitive score was down to 64 out of 100 in 2024 compared to 74.5 in 2023. Las Vegas, Phoenix, Denver, Boise and Albuquerque all now have more competitive rental markets than Salt Lake City, according to the report. RentCafe.com #housing #apartments #housingmarket #rentalmarket By Sofia Jeremias

🏡✨ Exploring Prescott's Rental Market: Insights for Landlords and Tenants 🌟 Prescott, Arizona, is a dynamic rental market perfect for both potential landlords and tenants. In 2024, the average rent for a two-bedroom apartment stands at $2,033, showing stable growth. This stability makes Prescott an attractive spot for investors. 📈 For landlords, understanding Arizona’s landlord-tenant laws and the local economic health is crucial. Prescott's economy, bolstered by tourism, healthcare, and retail, ensures a steady stream of renters. Staying informed about rental yields and occupancy rates can help in making profitable investment decisions. 💼 Tenants will find a variety of housing options and relatively stable rent prices. It's important to know your rights under local laws to navigate rental agreements effectively. Evaluating amenities and considering proximity to work, education, and recreational activities can enhance your living experience. 🏘️ Whether you're looking to invest or find a new home, Prescott's rental market offers opportunities for everyone. Stay informed, understand the market trends, and make educated decisions for a successful real estate journey in Prescott. 🌟 Ready to explore Prescott's rental market? Contact us at (928) 696-7000 or email peter@listingprescott.com for expert advice and insights! 📞✉️ #PrescottAZ #RentalMarket #LandlordTips #TenantTips #RealEstate #InvestInPrescott #HomeRentals #ArizonaLiving #RealEstateInvesting #PropertyManagement #RentalProperties #CommunityLiving #PrescottLiving #RealEstateAdvice #HomeSweetHome #ExplorePrescott 🏡✨

Thoughts? Tampa Bay's rental market is one of the hottest in the nation, even with the increased supply, we're far behind where we need to be and rental costs are still a challenge. According to Rent Cafe: 2024 Competitive Score: 78.4 Average Vacant Days: 40 Occupied Apartments: 93.5% Prospective Renters: 8 Lease Renewal Rate: 65.4% Share of New Apartments: 0.61% 2023 Competitive Score: 70.2 Average Vacant Days: 40 Occupied Apartments: 94.2% Prospective Renters: 9 Lease Renewal Rate: 64.7% Share of New Apartments: 0.68%

In the US, 1.6 million new apartments were built between 2020-2023. Another 1 million+ expected between 2024-2025. We're going through a similar dynamic, more purpose built rentals have come onto the market and more are coming. The increased supply will put a downward pressure on asking rents. How will it affect secondary market rentals? Agree or disagree? #newapartments #realestate #builtrentals #secondarymarket https://lnkd.in/gwnphvcH

From Miami to Orlando, RENTCafé looks at the hottest #multifamily markets in the country. Competition for apartment units is strong in parts of the Southeast and in several Midwest markets (suburban Chicago and Cincinnati), due to their higher affordability rates. The Northeast is also seeing intense competition, including sections of Northern New Jersey that offer proximity to Manhattan without the higher rental costs. Much of the demand is driven by the high cost of homeownership that has pushed many residents toward the rental market. https://lnkd.in/dU8ja7_b #multifamilyrealestate #multifamilyinvesting #apartmentliving

Exciting news for Minneapolis and the CRE community! 🌆 The latest #RentCafe report highlights Minneapolis as the top city for apartment hunters for the third consecutive month. This sustained interest is a positive sign for multifamily owners and developers in our area. With a significant 234% increase in apartment views, it's clear that our city continues to be a hotspot in the rental market. #minneapolis #realestate #multifamilyhousing #markettrends

As competition heats up in rental markets across the U.S., Chicago and its suburbs have quietly emerged as leaders in the space, outpacing even traditionally dominant regions like Miami. RentCafe’s recent report highlights the surge in demand here, driven by major employers, vibrant suburban growth, and historically high occupancy rates. For investors seeking stability and long-term growth, Chicago’s real estate market offers a unique opportunity. While capital has poured into southern regions, northern markets like Chicago are showing the benefits of consistent demand and limited supply, positioning them for sustainable growth in the years ahead. #RealEstateInvestor #ChicagoRealEstate #Multifamily https://lnkd.in/gg2UFQWE

This article sheds light on the challenges of the rental market in Chicago, and outlying suburbs. Two key takeaways : work with a real estate broker and start your search early. The rental market in Chicago moves quickly and inventory still low. Stay ahead of the game and secure your next rental with these tips : - Work with a broker. We provide great advantages, one is providing an active search, versus waiting for an auto search from an apartment website to send updates. My team and I have access to off-market and private rental listings; not available to apartment, or other real estate websites. - Start the rental search early with your broker. This leads to better prepared tenants ready to make educated rental decisions instead of feeling pressured because properties rent so quickly in this low inventory market. We provide a higher level of efficiency through upfront consulting, area tours, and research - even video tours when needed. Not to mention a higher rate of tenant satisfaction when starting the rental search early with us. - Did I mention the importance of starting the search early with an experienced broker yet? Feel free to reach out to me for more Chicagoland rental tips and to start your rental search today. #ChicagoRentalMarket #Chicagorentals #RealEstateTips #stationcities #stationcitieschicago #MadeleinePearlGroup #luxuryrentals #relocation #relocationspecialist #topproducer