8 Out of 10 New Apartment Buildings Were High-End in 2017

[Rob Bergeron]

https://www.rentcafe.com/blog/apartmentliving/luxury-apartments/8-out-of-10-new-apartment-buildings-were-high-end-in-2017-trend-carries-on-into-2018/

HIGH-END CONSTRUCTION BY CITY

16 cities are getting exclusively high-end rentals in 2018

Of the nation’s 30 largest cities, there are 6 urban areas were renters saw nothing but high-end apartments in 2017, while in the first part of 2018, there are 16 cities where all new apartments are top-grade. Dallas, Fort Worth, Boston, Las Vegas, Baltimore, and Louisville, KY are on the 2017 list. Pricey cities like San Francisco, L.A., Denver, and Chicago are on the 2018 list alongside more affordable ones, like Jacksonville, Detroit, Charlotte, and El Paso.

[Will Fraser]

Hey @Bob H.!  That' makes sense, right?  Who out there is wanting to go through the very long and headache-filled process of building a new construction apartment building or complex and target anything other than the highest paying demographic?  Especially in this bull-ish market right now.

In my observation, unless the government subsidizes or otherwise incentivizes a project to low income sectors, it's not going to attract development money unfortunately.