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New Report Shows Some Cities Seeing Rental Price Hikes

All is not doom and gloom in the apartment rental market.

While a number of large cities experienced falling rents, others continued to see rising ones, particularly in areas with high demand. During the second quarter, cities that were deemed Covid-19 hotspots, saw a decline in rents; yet others, despite high rates of infection and deaths, saw rents increase.

Between April and June 2020, rents were down in Los Angeles by 5.42%, Miami by 3.97%, Seattle by 2.33% and Houston by 1.69%. Each of those places experienced high rates of COVID-19 infection at some point during the quarter.

Conversely, rents rose in NYC by 5.5%, New Orleans was up 4.82% and Phoenix rents increased by 7.28%.

It was a very mixed bag indeed.

Mr. Willig engages and coordinates a professional team of real estate brokers, general contractors, leasing agents, and property managers in order to rehabilitate, lease and maintain the properties he acquires for SpringView Investments. He has over 20 years of finance and accounting experience.


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