The numbers are in, and up – household incomes have significantly increased for each region of the country, as well as across all age groups. As the economy and job market improve, median household incomes increase, as does the desire for housing.

While this news is favorable to both renters and investors, every coin has two sides. Many of these former renters will be more inclined to invest their money towards purchasing their own homes. The bottom line: greater competition among apartment owners/renters, which could mean very different outcomes for each type of renter. While urban Class-A renters will continue to face considerable competition, good news may be in store for those currently struggling with the cost of housing. Higher household incomes coupled with the decline of rent increases signal an optimistic future for Class-C renters.

All in all, renters and landlords of Class-B and Class-C buildings have much to be positive about!

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