Apartment construction is seeing significant growth, with RentCafe data projecting the completion of over 500,000 rental units by the end of 2024. This represents a 9% increase in new apartments compared to the previous year. New York City is expected to lead this surge in new rental supply.

Yahoo Finance housing reporter Dani Romero breaks down the details, exploring how this influx of new apartments could lower monthly prices for renters.

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This post was written by Angel Smith