A supply-demand imbalance in the for-sale housing market will eventually spill into the rental market.
"Soaring prices. Competition. Desperation. The dramatic conditions for U.S. homebuyers during the past year are now spilling into the market for rentals."
Prashant Gopal reports on the current realities of the rental market in the United States, where demand is being driven by overflow from a for-sale market that prices many potential buyers out—and into rental housing.
According to Gopal, the spike in rental prices are most acute in Sun Belt cities. "Landlords from Tampa, Florida, to Memphis, Tennessee, and Riverside, California, are jacking up rents at record speeds."
The demand for rental housing has reached record levels, according to the article. "The number of occupied U.S. rental-apartment units jumped by about half a million in the second quarter, the biggest annual increase in data going back to 1993, according to industry consultant RealPage Inc. Occupancy last month hit a new high of 96.9%."
According to data from RealPage, rents on newly signed leases surged 17 percent in July compared to the price paid by the previous tenant.
FULL STORY: Landlords From Florida to California Are Jacking Up Rents at Record Speeds
Housing Prices Rising Faster Than Any Point Since 2005
New home price data from CoreLogic puts numbers to the torrid 2021 housing market in the United States.
Rents Rebounding Around the U.S., Report Says
Apartment List's May National Rent Report indicates that the brief reprieve in rising rental prices caused the economic disruption of the pandemic might already be a thing of the past.
Miami Housing More Expensive Than New York City, Report Says
New data shows stratospheric housing costs in cities not named New York.
What ‘The Brutalist’ Teaches Us About Modern Cities
How architecture and urban landscapes reflect the trauma and dysfunction of the post-war experience.
‘Complete Streets’ Webpage Deleted in Federal Purge
Basic resources and information on building bike lanes and sidewalks, formerly housed on the government’s Complete Streets website, are now gone.
The VW Bus is Back — Now as an Electric Minivan
Volkswagen’s ID. Buzz reimagines its iconic Bus as a fully electric minivan, blending retro design with modern technology, a 231-mile range, and practical versatility to offer a stylish yet functional EV for the future.
Healing Through Parks: Altadena’s Path to Recovery After the Eaton Fire
In the wake of the Eaton Fire, Altadena is uniting to restore Loma Alta Park, creating a renewed space for recreation, community gathering, and resilience.
San Diego to Rescind Multi-Unit ADU Rule
The city wants to close a loophole that allowed developers to build apartment buildings on single-family lots as ADUs.
Electric Vehicles for All? Study Finds Disparities in Access and Incentives
A new UCLA study finds that while California has made progress in electric vehicle adoption, disadvantaged communities remain underserved in EV incentives, ownership, and charging access, requiring targeted policy changes to advance equity.
Urban Design for Planners 1: Software Tools
This six-course series explores essential urban design concepts using open source software and equips planners with the tools they need to participate fully in the urban design process.
Planning for Universal Design
Learn the tools for implementing Universal Design in planning regulations.
City of Albany
UCLA Lewis Center for Regional Policy Studies
Mpact (formerly Rail~Volution)
Chaddick Institute at DePaul University
City of Piedmont, CA
Great Falls Development Authority, Inc.
HUDs Office of Policy Development and Research