How is your local rental market?

[Alan Asriants]

Hey BP community. I have been noticing a slowdown in some rental growth in my area (Phila). I have noticed that minimally upgraded units are starting to sit longer and not getting the max rent any more. Nicer units are listed $100-150 lower but are still getting snagged up. Its a bit of a mixed bag becasue I still see some inventory moving around at high rents, but I do feel like rents have hit a cap. If rates flatten and rents cap that should be great for the market to not shock it.

What have you been seeing in your markets? would love to see other trends in the areas

[Brett Deas]

Rent demand is still insane in the Denver area. The most recent stat is 2.3 new jobs for every 1 unit of new housing. We had a shortage before so we are just seeing that expand.