New Apartments at 50-Year High May Ease Pressure on US Rents
- About 420,000 rental units expected this year: RentCafe study
- Extra supply could help alleviate record rents in some cities
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A jump in apartment construction in the US may help provide some relief to renters who’ve faced soaring prices -- eventually.
This year, 420,000 apartments are expected to be delivered nationwide, according to a study by listing service RentCafe. It would be the second year in a row that the industry tops 400,000 units, a mark that was last reached in 1972.