Apartment List says the rental market has been on a rollercoaster in recent years, with abrupt swings in demand and supply, changing preferences, and shifts in where renters choose to call home. As we head into 2024, their economics team took a look at how the market evolved in 2023 and outlined 7 key trends they expect to see in 2024.
Their 7 key predictions for 2024 are:
- 2024 will bring the most new apartments in decades
- Low single-digit rent growth in 2024
- The changing rent vs. buy math will create more long-term renters
- Hybrid work will cement itself as the new norm for office jobs
- Sun Belt markets will see more renters, but not necessarily higher rents
- As the economy takes center stage in the presidential election, candidates will need to speak to housing concerns
- More renters will use AI in their searches
Click here to read the full report at Apartment List.
