Rental Beast recently published its 2023 Market Report which includes predictions for 2024. Rents are expected to rise slightly driven by continued high demand from young families embracing the renter lifestyle. The multifamily sector is a key focus, with an influx of new inventory potentially leading to increased concessions to boost occupancy. The sentiment among property owners regarding median rent indicates a cautious or stable outlook, with 75% expecting rents to remain the same through June 2024.
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