Multifamily rent growth approaches peak levels in April 2024

New research from Building Design+Construction and Multifamily Pro+ highlights the 127 top amenities that developers, property owners, architects, contractors, and builders are providing in today’s apartment, condominium, student housing, and senior living communities.

The U.S. rental market in early 2024 is moderately competitive, with apartments taking an average of 41 days to find tenants, according to the latest RentCafe Market Competitivity Report.

A new construction method featuring LEGO-like bricks made from a renewable composite material took first place for building innovations at the 2024 JEC Composites Innovation Awards in Paris, France.

As priorities realign and demographic landscapes transform, multifamily designers and developers find themselves in a continuous state of adaptation to resonate with residents.

Although the number of new apartment building units recently reached the highest point in nearly 50 years, construction of duplexes, triplexes, and other buildings of from two to nine units made up just 1% of new housing units built in 2022. A few states have recently enacted new laws to spur more construction of these missing middle housing options.

The multifamily market was stable at the start of 2024, despite the pressure of a supply boom in some markets, according to the latest Yardi Matrix National Multifamily Report.

Despite a problematic financing environment, 2023 multifamily construction starts held up “remarkably well” according to the latest Yardi Matrix report.

Greystar and Wood have entered into a long-term agreement whereby Greystar will serve as property manager for all current and future Wood developed and owned assets.