Demand for Apartments Grow



The demand for apartments is at a new high, pushing national vacancy rates way down.  This is great news for residents in Arcadia Run, who can now boast the high value of their new apartment!

Despite the improvements in the housing market, the rental market is still booming.  Only four percent of U.S. apartments were vacant in the second quarter of 2013. “The simple fact that vacancy continues to compress despite such low vacancy rates speaks volumes about the ongoing demand for apartments.  The national vacancy rate now stands 380 basis points below the cyclical peak of eight percent observed right after the recession,” says Ryan Severino, senior economist at Reis, a company that provides current information on commercial real estate.

The average rent may be rising because of the decrease in vacancies, but it’s still extremely affordable compared to buying a house.  Like we mentioned in our last post, home prices in Manassas are on the rise, showing that our area is increasing in value and demand.  What better way to live in a sought-after region while still saving your money?  Arcadia Run is the best choice for young professionals who want to get the best bang for their buck.

AOL Real Estate says renting an apartment is the ideal choice for young Americans. Apartment markets are thriving the most near college and university communities, much like Manassas. Being so close to several colleges, Washington D.C., Jiffy Lube Live, and an abundance of bars and restaurants, it’s clear why this region is so popular among renters with active lifestyles.

As we’ve seen in the past, the housing market can be very unpredictable. Renting is a great option for those who want security and don’t want to deal with the stresses of homeownership.  Arcadia Run apartments are also of higher quality than many of the homes sold in our area.  With up-to-date features that are above the standard of most new homes, and a dynamic community for residents, our apartments have proven to be the hottest new place to live.

At Arcadia Run, it’s easy to see why these apartments are in such high demand.  They’re newly built, come with the best features, and have gained a following of fun and lively residents. As the demand for luxury apartments continue to rise, you can bet Arcadia Run will fill up quickly!

Source: AOL Real Estate