Some US rental markets cool down with record supply delivery, while Midwest bucks the trend

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The record supply delivery has also delivered a slow down for the rental market in city like Nashville, TN, Austin, TX, San Antonio, TX and Orlando, FL. Nashville saw an 8% decline in April while Cincinnati, OH saw a 1% gain in April.

The Midwest’s affordability is a big draw even through the recent rent hikes seen across the country in the past few years. The US overall saw a 3.4% growth in single-family home rentals according to CoreLogic.

As home owners expect to see an increase in mortgage rates, and the affordability of purchasing a home for most becomes unattainable – the single family rental market may be poised to reap the benefits.

https://www.bizjournals.com/cincinnati/news/2024/05/22/apartment-market-cools-single-family-rentals.html

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