Bidding Wars For Apartments? 2021’s Rental Market Is Also On Fire

October 14, 2021


After a summer of heated bidding wars in the for-sale market, it didn’t take long until we heard from a number of Taylor Johnson clients that competition was just as fierce for apartments and single-family rentals. Armed with stats and sources, we took the story national by pitching it to The Business Journals, which ran a story on the hot rental sector in all 44 of its city news outlets. In the article, the reporter quoted experts from TJ clients Baird & WarnerDowntown Apartment Co.Fifield Cos. and RMK Management Corp., who covered everything from how Chicago studios in Class A buildings are renting for nearly $1,000 more per month than a year ago to how single-family rentals are seeing interest from up to 20 families per listing. And it’s not just Chicago’s rental market that’s on fire. Fifield said apartment owners in Miami, Phoenix and Dallas are experiencing swift leasing activity, and RMK said leasing at 42 Hundred on the Lake near Milwaukee is three months ahead of projections. Open TJ TALK to read more.

42 Hundred on the Lake, a new 236-unit luxury apartment building overlooking Lake Michigan in St. Francis, Wis., just south of Milwaukee, is the fastest-leasing property in M&R Development’s history. The community, which is managed by RMK Management Corp., opened in April and is already more than 80% leased.


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