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

Thank you for sharing!

Your article was successfully shared with the contacts you provided.

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.

Want to continue reading?
Become a Free ALM Digital Reader.

Once you are an ALM digital member, you’ll receive:

Unlimited access to GlobeSt and other free ALM publications
Access to 15 years of GlobeSt archives
Your choice of GlobeSt digital newsletters and over 70 others from popular sister publications
1 free article* every 30 days across the ALM subscription network
Exclusive discounts on ALM events and publications

*May exclude premium content
Already have an account? Sign In Now

Dig Deeper

GlobeSt. Multifamily Spring 2023Event

Join the industry's top owners, investors, developers, brokers & financiers at THE MULTIFAMILY EVENT OF THE YEAR!

Get More Information

GlobeSt

Don't miss crucial news and insights you need to make informed commercial real estate decisions. Join GlobeSt.com now!

Free unlimited access to GlobeSt.com's trusted and independent team of experts who provide commercial real estate owners, investors, developers, brokers and finance professionals with comprehensive coverage, analysis and best practices necessary to innovate and build business.
Exclusive discounts on ALM and GlobeSt events.
Access to other award-winning ALM websites including ThinkAdvisor.com and Law.com.

Already have an account? Sign In Now