What's Driving 2021's Crazy Hot Rental Market?
Now Available On Demand
One year after COVID-19 lockdowns temporarily shut down most leasing activities, the U.S. rental housing market is suddenly on an unprecedented hot streak. Industry veterans say they haven’t seen anything like this in decades. The streak in the for-sale housing market has now reached the rental housing market—for apartments and single-family rentals. Both occupancy and rent growth across the country will likely hit record highs in the coming months. Many individual metros have already broken records, with dozens now posting double-digit rent hikes.
What is driving the craziness and how long can this wild ride continue? Join RealPage VP and Deputy Chief Economist Jay Parsons and Chief Economist Greg Willett for this timely webcast. They’ll share the latest trends, explain what’s driving the big numbers, discuss the latest outlook, and address burning questions that include:
- What’s behind the big demand for rentals and how long can it continue?
- How did rent growth levels accelerate so quickly in so many markets?
- What markets and product classes are leading the way—and which are still lagging?
- Has the hot streak spread to hard-hit coastal gateway cities and downtown neighborhoods?
- How much further can this wild ride go and what headwinds might slow it down?
- What will be the impact on apartment development and acquisition trends in 2021?
Jay Parsons serves as Senior Vice President, Chief Economist for RealPage, leading the Economist and Industry Principal teams to provide deep insights on market trends and consumer behaviors. He is a frequent author and industry speaker on topics affecting multifamily apartments and single-family rentals, including rental housing investment and asset management strategy, rental housing policy issues, risk mitigation and property management.
Jay has been cited in The Wall Street Journal, Bloomberg, The Financial Times, The Economist, and The New York Times, and he has appeared on CNBC and BloombergTV. His commentaries have been published by Barron's, the Pension Real Estate Association, the Mortgage Bankers Association, the National Apartment Association, American Banker and GlobeSt.
Greg WillettChief Economist, RealPage, Inc.
Greg facilitates the alignment of the firm’s technology and analytics solutions with rental housing sector needs and opportunities. He is well versed on rental housing market fundamentals and activity nationally, by metro and in individual neighborhoods. Greg is active in industry organizations such as the National Multifamily Housing Council, the Urban Land Institute and the National Apartment Association. He provides commentary for national and local business media.