The rich or developers catering to them may be different after all, as Class A apartment rents grew faster than the national norm for the year-over-year period ending this past April.
And where this trend is showing up the most is in several Sun Belt markets, which climbed twice as fast as the April market average. Look in particular to Florida for some significant hikes.
For the period ending in April 2023, apartment rents grew 3.2% in the country's 150 largest apartment markets, according to a post by RealPage Analytics' Julia Bunch. Class A rents went up more or 3.9% for the same period, an outperformance of about 70 basis points (bps).
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