Many of the noteholders we buy notes from also own rental properties. Recent data from RentCafe is good news for these folks.
In 2024, developers completed close to 600,000 multifamily units, the highest level since 1971 and a 34% increase from 2023. New York City, Dallas and Austin were the top 3 cities in the number of new rentals.
The occupancy rate is holding at 93%+ with each available unit having an average of 7 applicants.
10 of the 20 hottest rental markets are in the MidWest, led by Chicago, Detroit, Lansing, Grand Rapids, Cincinnati and Milwaukee.
If you are interested in pricing options for your note, or have questions about carrying a note for the first time, please contact me directly at dennystanz@verizon,net, we are happy to help.
