Economy Watch: HQ2 Could Raise Rents in Some Apartment Markets
ByBids to be the home of Amazon’s second headquarters, HQ2, were due on Thursday, and more than 50 cities (or metros with various polities collaborating) put in for what’s probably the biggest site selection prize of the 2010s. Now it’s up to the retail giant, which will announce the winner sometime in 2018.
Apartment List recently published a report, involving the 15 likely top contenders for the prize, detailing what an influx of Amazon workers (as many as 50,000 over 10 years, plus more supplementary workers) would mean for local apartment markets. Mainly, it would increase rents up to an additional 2 percent per year in the metro selected for the Amazon HQ2. That would be on top of baseline rent growth without Amazon, which averaged 3.1 percent per year nationwide from 2005 to 2015…
Economy Watch: HQ2 Could Raise Rents in Some Apartment Markets
