For Multifamily Executive, Hamilton Zanze CEO Kurt Houtkooper details the reasons for optimism about the multifamily market and his company’s plans for 2024.Read
Apartment Construction Continues in Spokane
As Spokane apartment developers continue to build hundreds of units annually, renters can now choose from a large selection of low-cost housing options. After an influx of 888 units in Spokane County came online in 2012, the region added another 900 units in 2013 as of November. Because Spokane avoided excessive home building during the real estate boom from 2005 to 2007, the housing demand continues to justify the recent apartment construction.
Despite Spokane’s high level of multifamily development, rents are stable and vacancies have remained low. The apartment vacancy rate in the county had fallen from 6% in 2011 to 3.9% today.
Read more at The Spokesman-Review