The nation’s ongoing health crisis and troubled economy are increasing the need for market-rate apartments at the lower end of the price spectrum. Some renters are looking to downgrade their housing choices due to income interruptions. Others simply would prefer to save some money at this point, given uncertainty about what might lie ahead.

However, the available stock of Class C productdefined here as roughly the 25% or so cheapest market-rate units in a metrois virtually exhausted in many places across the country.

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