Omaha has ranked #13 nationwide on a June list of the most competitive rental markets by a recent report. The ranking is based on the first half of 2022. The 100 largest markets in the U.S. were ranked on the following criteria:
- Number of days apartments were vacant
- Occupancy
- Number of prospective renters competing for apartments
- Percentage of renewed leases
- Share of new apartments built
A combination of these criteria landed Omaha a score of 85.2, with Miami being the highest at 114.5.
National Comparison
| National | Omaha | |
| Avg. Vacant Days | 35 | 29 |
| Occupied Apartments | 95.5% | 96.7% |
| Prospective Renters | 14 | 17 |
| Lease Renewal Rate | 61.7% | 63% |
| Share of New Apartments | 0.7% | 0.9% |
The report credits surging inflation and high mortgage rates for the competitive rental markets. These factors continue to be a challenge for would-be homeowners, delaying homeownership and putting more pressure on the rental markets.
A report released by Up for Growth this week shows that the U.S. is 3.8 million homes short of meeting the housing needs nationwide, double what it was in 2012. The report states, “Housing Underproduction is more than a housing problem. Addressing it is central to resolving the most urgent and important social, economic, and environmental issues of our time.”
At Metonic, we believe everyone, regardless of their circumstance, deserves to have a beautiful, comfortable space where they feel at home. In collaboration with Apogee, we are proud to be under construction on 660 apartment homes in the Omaha Metropolitan Area, with 795 in the pipeline for 2023 and 2024.
To learn more about Metonic and our investment opportunities, visit Metonic.net or email us at info@metonic.net.