The biggest Apartment Construction Boom in decades in the US is providing some relief for renters, with median rent rising just 0.5% in June. However, the trend is uneven, with renters in cities like Cincinnati and Indianapolis facing increases of 5% or more. Much of the new construction consists of luxury apartments, which rent for over $2,000 a month, leaving many renters struggling to afford their monthly payments. Despite the increase in apartment construction, experts believe it will not be enough to resolve the housing shortage or affordability problem for renters.

The post Biggest Apartment Construction boom in decades likely to bring renters uneven relief appeared first on Balanced News Summary.