TR_Sept-Oct_2022_lr

Apartment List National Vacancy Index (2019-Present)

a time when wages are stagnant and many Americans are living paycheck to paycheck. You’re probably getting the point: More and more people are renting, which is why vacancies are down from what they were pre-COVID. With the tighter supply, rents are way up. With a shortage in rentals, you might think more Americans are renting or buying single-family homes. But you’d be wrong… TREND #4: HOUSING SUPPLY SHORTAGES According to the National Association of Realtors, housing inventory is still down.

10%

7.3%

8%

6%

5.0%

4%

4.1%

2%

0%

2019 JFMAMJJASONDJFMAMJJASONDJFMAMJJASONDJFMAM 2020 2021 2022

Source: Apartment List Vacancy Index

https://www.apartmentlist.com/research/national-rent-data

Annual Change in Median Rent

United States: 2018–Present

+20%

2021: +17.5%

+15%

+10%

2022: +5.4% YTD

+5%

2018: +3.3% 2019: +2.3%

0%

2020: -1.6%

-5%

J

F

M

A

M

J

J

A

S

O

N

D

Apartment List Rent Estimates

Available: https://www.apartmentlist.com/research/category/data-rent-estimates

62 | think realty magazine :: september - october 2022

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