Chester
Real Estate
Richmond's new apartment wave is peaking
Data: RentCafe; Note: Includes apartment constructions with 50 or more units; Chart: Axios VisualsRichmond is expected to slow the pace of new apartment construction by 2028, a new report finds.Why it matters: The projected cool-down comes as a national shortage of homes to buy or rent is keeping housing prices high.By the numbers: Metro Richmond completed construction of 15,936 apartments from 2019 to 2023, per a recent analysis by RentCafe.That number is poised to drop to an estimated 15,325 for 2024 to 2028 — a nearly 4% drop. That includes around 4,510 apartments on track to be delivered this...
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