ICYMI: Developers in the Tucson-area are eagerly building more communities of houses — not apartments — that are exclusively for renters.
As home prices remain stuck on high and homebuilder activity slows, the demand for rental properties is soaring, along with rents.
People are also reading… Linda Vista Luxury Homes will have 64 homes in a gated community at 375 W. Linda Vista Blvd. Rental prices for the new developments have not yet been set but the rent for Aerie’s existing communities ranges from around $1,300 to $2,100 a month. “Single-family rentals are not a new concept … although they proliferated in the aftermath of the 2008 housing crisis, this time it’s different,” the analysis says. “The pandemic created an unprecedented demand among renters for space and privacy, which houses can address much better than apartments.”
Get the latest news from Tucson's real estate scene here Find out what new restaurants are opening in Tucson, along with developments in the local housing market and commercial real estate.As featured on Motel on Tucson's south side to be converted to apartments For Star subscribers: Investors plan to turn a portion of an existing motel, purchased for $6.15 million, into apartments, with plans for expansion.
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