Multifamily (Rates)

A new study from RENTCafé backs the longstanding impression that Generation Y is drawn to urban settings, particularly downtowns and the surrounding areas.

Notably three U.S. areas make up the top 50 ranking: New York City, California and the Boston area.

Over a 10-year period, the number of homeowner families with minor children dropped by 3.6 million in the United States.

RENTCafé analyzed the actual rent difference for apartments located in top-rated locations versus apartments located in average and below average locations.

RENTCafé recently set out to identify the cities that have improved the most since the turn of the millennium.

Usually associated with the suburbs, single-family rentals have expanded much faster than the multifamily stock in no less than 22 of the 30 largest US cities.

Twenty-nine of the top 30 cities with the highest rent increases in March were in small cities, led by Odessa and Midland, Texas, where rent prices are bouncing back after the most recent drop in oil prices.

The apartment search website compiled a ranking of the most gentrified zip codes in the U.S., using data from the 2000 Census Survey and the 2016 American Community Survey.

The population in some 22 large U.S. cities has shifted from owner-majority to renter-majority during the “recession decade,” with Toledo, Ohio; Memphis, Tenn. and Tampa, Fla. seeing the most abrupt changes.

Credit scores of approved applicants have increased by 12 points, on average, since 2014, and in some cases even more.