Apartment rents rise as housing sales remain rocky, foreclosure rates increase, and mortgage requirements increase.
Fourth quarter vacancy rates are at a decade low. The tight rental market has led to rent increases nationwide with markets in San Francisco and San Jose experiencing the greatest jump. A rebounding tech industry also drove higher rents in Austin, Texas and Chattanooga, Tennessee.
Although New York made the list, ranking fifth-highest for rent increases highlights the effects of a wounded financial sector and market with existing high rents already close to their limit.
In response to rising foreclosures and stringent mortgage standards developers and families turned to the rental market as a solution. New rental units are expected to relieve the tight vacancy market, specifically on the west coast within the next year. Despite optimistic reports of multifamily construction rebounding, only 38,000 new units were built last year representing an all-time low in the last thirty years.
Thanks to Elaine Mahoney
FULL STORY: US Apartment Vacancies Hit Ten Year Low

Planetizen Federal Action Tracker
A weekly monitor of how Trump’s orders and actions are impacting planners and planning in America.

Chicago’s Ghost Rails
Just beneath the surface of the modern city lie the remnants of its expansive early 20th-century streetcar system.

Amtrak Cutting Jobs, Funding to High-Speed Rail
The agency plans to cut 10 percent of its workforce and has confirmed it will not fund new high-speed rail projects.

Ohio Forces Data Centers to Prepay for Power
Utilities are calling on states to hold data center operators responsible for new energy demands to prevent leaving consumers on the hook for their bills.

MARTA CEO Steps Down Amid Citizenship Concerns
MARTA’s board announced Thursday that its chief, who is from Canada, is resigning due to questions about his immigration status.

Silicon Valley ‘Bike Superhighway’ Awarded $14M State Grant
A Caltrans grant brings the 10-mile Central Bikeway project connecting Santa Clara and East San Jose closer to fruition.
Urban Design for Planners 1: Software Tools
This six-course series explores essential urban design concepts using open source software and equips planners with the tools they need to participate fully in the urban design process.
Planning for Universal Design
Learn the tools for implementing Universal Design in planning regulations.
Caltrans
City of Fort Worth
Mpact (founded as Rail~Volution)
City of Camden Redevelopment Agency
City of Astoria
City of Portland
City of Laramie