Plunging City Rents Could Spawn Urban Resurgence
January 21, 2021
Interest in apartments in big cities has waned during the COVID-19 pandemic, while apartments in less dense areas have surged in demand. A new report from realtor.com® shows that major urban markets, such as San Francisco and New York, are posting double-digit price declines for one- and two-bedroom units compared to a year earlier. On the other hand, apartment rents are increasing in less dense areas.