Rents are resetting to pre-pandemic projections around the United States. Cities like San Francisco and New York are lagging behind, however.
Marie Patino shares news of new research published by real estate aggregator Apartment List that measures the difference between pre-pandemic projected rents and current rents. One key takeaway: rents in San Francisco have the largest distinction between pre-pandemic projections and current realities—a difference of 16.1 percent.
The difference in San Francisco has still shrunk compared to the 35 percent decline in rent prices in December, when rents had declined by 35 percent year over year, matching a trend of climbing rental prices around the country. However, according to the data, prices are recovering to pre-pandemic projections slowest in large cities, like New York; Washington, D.C.; Boston; and Seattle. "Nationwide though, the trend looks different: The gap between actual and projected prices closed for the first time in May," explains Patino.
Infographics and more insight can be found in the source article.
Read the full story: Rent Catches Up to Pre-Pandemic Estimates, Except in Big Cities
Miami Housing More Expensive Than New York City, Report Says
New data shows stratospheric housing costs in cities not named New York.
U.S. Housing Prices Continue Record-Breaking Pace
July marked four straight months of record-breaking increases for housing prices nationwide, according to the latest housing market data.
First Steps Toward Rent Control in Minneapolis
The state of Minnesota requires local rent control law to be approved by general election, so the city of Minneapolis is forced to take several preemptory steps to get a rent stabilization ordinance on the ballot.
Planetizen Federal Action Tracker
A weekly monitor of how Trump’s orders and actions are impacting planners and planning in America.
California plans to bury El Niño’s downpour
If the state plays its cards right, it may be able to store a billion acre-feet of El Niño’s water in aquifers.
Desperate measures: Advocates weigh draining Lake Powell to fill Colorado River
Draining the reservoir could reduce evaporation losses by a couple hundred thousand acre-feet.
40 years after approval, Chicago breaks ground on new park
The park honors Jean Baptiste Point du Sable, the city’s first permanent non-native settler.
‘Hoodwinked:’ New Mexico bill aimed at microgrids paves way for data center development
In an interview with High Country News, Padilla said the legislation “ignited” New Mexico's economy.
California’s ‘unrecognizable’ water plan may go down the drain
After four years of regulatory processes, water agencies say the plan to overhaul how cities and farms take water from the Sacramento-San Joaquin Delta has changed dramatically.
FREE Course: Walkable City 1: Why Walkability?
After describing his path towards focusing on walkability as the essence of good planning, Jeff Speck marches through his five principal reasons for making more walkable places.
Reinventing Malls: Planning Alchemy—Turning Gray Fields Into Gold
The course focuses on the opportunities and imperatives that shape reinvention of mall sites.
City of Rosemead
Rutgers University, Edward J. Bloustein School of Planning and Public Policy
One Hundred Miles
Hunter College, City University of New York (CUNY)
The Architects Foundation
University of Cincinnati Online
City of Cambridge
Montrose County
The Pocatello Development Authority