Instant Insights / Multifamily's Strong Rent Growth

Since almost the start of the year, the apartment asset class has been delivering eye-popping rent growth. Read about it here.

Analysis

Rising Lumber Prices Add $92 Per Month To Apartment Rents

Softwood lumber product costs have risen to $42,882 in an average single-family home, and $14,631 in an average multifamily project.

By Ted Knutson | July 21, 2021 at 07:26 AM

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Increases in softwood lumber prices have raised the average rent apartment tenants would pay on new construction between April 17, 2020 and July 8, 2021 by $92 per month and $9,990 to the market value of a new rental unit, according to a new report by the National Association of Home Builders.

The increase is somewhat less than the April 2020-April 2021 of $119 monthly NAHB reported three months ago.

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