Apartment Rent Rocketed up 17.8% during 2021. How High will Rents Rise in 2022?

Here are a few YoY Rental Rate Increases in Texas and Florida during 2021 (1bd or 2bd):
(sources: ApartmentList or Zumper)

• Austin +26.0%

• Houston +11.0%

• Dallas +16.7%

• Orlando +27.6%

• Tampa +26.2%

Here are a few cities were rents fell during 2021

• Newark -25.1%

• Milwaukee -16.7%

• Richmond -12.6%

Supply to the Rescue?
Building permits for buildings increased during December, 2021 by almost 19%. Permits for buildings with >5 units were issued for 675,000 units during December, 2021

Permits for single-family homes increased 9.1% to 1.873 million units during December, 2021

(sources: US Commerce Dept and US Census)

Other factors include supply chain issues and mortgage rate volatility

Steve Silver NMLS #314817-TX and #LO91968-FL   www.SilverMortgage.com

@SteveSilverNow