September 29, 2023
The nationwide median rent fell 0.5% to $1,364, according to Apartment List’s National Rent report, meaning apartments are 1.2% less expensive now than they were a year ago. Despite national mounting challenges and increasing interest rates, multifamily remains a safe bet. Permits for single and small multifamily units surge in September. In Northern Virginia, Fairfax County Supervisors approve a plan to reduce parking requirements, providing more space for housing, parks, and other public amenities.