New Analysis by Beekin Shows Affordability Improved for Renters in 2023
Beekin Inc., a developer of next-generation AI platforms for rental housing investors and lenders, today released its Year-End Rental Analysis for 2023 , with data pointing toward improved conditions for renters.
- Beekin Inc., a developer of next-generation AI platforms for rental housing investors and lenders, today released its Year-End Rental Analysis for 2023 , with data pointing toward improved conditions for renters.
- The rate of annual rental price increases for single-family rental properties and multifamily rental units continued to trail rises in median home prices, the consumer price index (CPI) and wage growth in 2023.
- The Beekin study, prepared by market intelligence firm CJ Patrick Company, shows that while the CPI rose 4.1% in 2023, rents for multifamily units and single-family rental properties rose by just 1.1% and 0.4%, respectively.
- “In most of the country, rental affordability continues to improve relative to home prices, which are rising more rapidly,” said Beekin founder and CEO Vidur Gupta.