{"id":1459,"date":"2018-10-01T21:55:00","date_gmt":"2018-10-01T21:55:00","guid":{"rendered":"https:\/\/www.realtrends.com\/blog\/2018\/10\/01\/luxury-rentals-rise\/"},"modified":"2025-03-13T02:23:15","modified_gmt":"2025-03-13T02:23:15","slug":"luxury-rentals-rise","status":"publish","type":"post","link":"https:\/\/www.realtrends.com\/blog\/2018\/10\/01\/luxury-rentals-rise\/","title":{"rendered":"Luxury Rentals Are On The Rise"},"content":{"rendered":"<h2>Luxury Rentals Rising<\/h2>\n<p style=\"font-weight: 400;\">We\u2019ve already shown that new apartment construction in the US saw&nbsp;<a href=\"https:\/\/www.rentcafe.com\/blog\/rental-market\/apartment-construction-is-finally-slowing-down-in-2018-after-a-6-year-upward-streak\/\" target=\"_blank\" rel=\"noopener\" data-saferedirecturl=\"https:\/\/www.google.com\/url?q=https:\/\/www.rentcafe.com\/blog\/rental-market\/apartment-construction-is-finally-slowing-down-in-2018-after-a-6-year-upward-streak\/&amp;source=gmail&amp;ust=1538237246588000&amp;usg=AFQjCNH_aC2shB5BGb9-wGYyv5RANDO40A\">a 6-year period of strong development<\/a>. But what kind of units entered the market during this time? According to&nbsp;<a href=\"https:\/\/www.rentcafe.com\/blog\/rental-market\/luxury-apartments\/8-out-of-10-new-apartment-buildings-were-high-end-in-2017-trend-carries-on-into-2018\/\" target=\"_blank\" rel=\"noopener\" data-saferedirecturl=\"https:\/\/www.google.com\/url?q=https:\/\/www.rentcafe.com\/blog\/rental-market\/luxury-apartments\/8-out-of-10-new-apartment-buildings-were-high-end-in-2017-trend-carries-on-into-2018\/&amp;source=gmail&amp;ust=1538237246588000&amp;usg=AFQjCNGv-6Ct7PxY1ILeh997kBH6C60VGA\">our latest study<\/a>, most of the new apartments delivered were luxury rentals.<\/p>\n<p><!--more--><\/p>\n<p>In fact,&nbsp;while apartment construction overall slowed down, the high-end apartment construction segment comprised ever-larger chunks of the total large-scale developments completed each year, from 52% in 2012 to 79% in 2017. And it looks as if this year will go even higher: 87% of the buildings completed in the first half of 2018 were high-end.<\/p>\n<h1 style=\"font-weight: 400;\"><img loading=\"lazy\" decoding=\"async\" class=\"aligncenter wp-image-50297 size-full\" src=\"https:\/\/www.realtrends.com\/blog\/wp-content\/uploads\/sites\/9\/2021\/01\/highendapt.png\" alt=\"luxury rentals\" width=\"900\" height=\"541\"><\/h1>\n<h3>Here are more key findings regarding luxury rentals:<\/h3>\n<ul style=\"font-weight: 400;\">\n<li>Out of the nation\u2019s 30 largest cities, 16 are getting exclusively high-end new rentals in 2018, a significant increase compared to last year, when just 6 cities saw nothing but luxury apartments entering the market.<\/li>\n<li>Pricey San Francisco, LA, Denver, and Chicago are on 2018\u2019s list along with more affordable markets like Jacksonville, Detroit, and Charlotte.<\/li>\n<li>At a metro level, 6 of the 30 most populous US metros completed only luxury apartments in the first half of 2018: Dallas &#8211; Fort Worth, Houston, Kansas City, Charlotte, and Cleveland. Last year, there were only two metro areas where this happened: St. Louis and Las Vegas.<\/li>\n<li>Zooming out, we noticed&nbsp;a strong swing towards <a href=\"low-income-renters-struggle-afford-least-expensive-apartments\/\">luxury apartments<\/a> in the Southwest and Mid-Atlantic&nbsp;as developers here built an impressive 88% and 87% respectively of apartments as high-end in 2017. At the other end of the spectrum were California and the Pacific Northwest with the lowest shares of high-end apartment construction, 64% and 69% respectively.<\/li>\n<li>Which cities have the largest shares of high-end rental stock to date?&nbsp;Charlotte ranks first as half of its apartment buildings are classified as luxury. Nationwide, the share of high-end residential properties with 50 units or more clocked in at 23% this year.<\/li>\n<\/ul>\n<p><img loading=\"lazy\" decoding=\"async\" class=\"aligncenter wp-image-50298 size-full\" src=\"https:\/\/www.realtrends.com\/blog\/wp-content\/uploads\/sites\/9\/2021\/01\/map-high-end-rentals.png\" alt=\"luxury rentals\" width=\"1300\" height=\"867\"><\/p>\n<p style=\"font-weight: 400; text-align: center;\">Check out the <a href=\"https:\/\/www.rentcafe.com\/blog\/rental-market\/luxury-apartments\/8-out-of-10-new-apartment-buildings-were-high-end-in-2017-trend-carries-on-into-2018\/\" target=\"_blank\" rel=\"noopener\">full study<\/a> for interactive infographics.<\/p>\n","protected":false},"excerpt":{"rendered":"<p>Luxury Rentals Rising We\u2019ve already shown that new apartment construction in the US saw&nbsp;a 6-year period of strong development. But what kind of units entered the market during this time? According to&nbsp;our latest study, most of the new apartments delivered were luxury rentals.<\/p>\n","protected":false},"author":15802,"featured_media":4822,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"_jetpack_memberships_contains_paid_content":false,"footnotes":""},"categories":[3255],"tags":[],"coauthors":[],"class_list":["post-1459","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-archive"],"acf":[],"yoast_head":"<!-- This site is optimized with the Yoast SEO Premium plugin v25.4 (Yoast SEO v26.8) - https:\/\/yoast.com\/product\/yoast-seo-premium-wordpress\/ -->\n<title>Luxury Rentals Are On The Rise<\/title>\n<meta name=\"description\" content=\"We\u2019ve already shown that new apartment construction in the US saw\u00a0a 6-year period of strong development. But what kind of units entered the market during this time? 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