Residential real estate is having a moment. Insane home price growth over the past two years has forced would-be homebuyers to stay in the rental market, which in turn has sent rental prices soaring. In 2021, rental prices increased 13.5%, the biggest gain on record and more than double any prior year. However, certain markets and regions of the country are experiencing growth rates even higher than the national average. The Sun Belt in particular is growing at a rapid pace, and rent in some cities in the region rose as much as 24%.
This is great news for Mid-America Apartment Communities (NYSE: MAA), one of the premier multifamily REITs, which owns 102,772 apartment units in 16 states, mostly in the Sun Belt. The company just released its full-year results for 2021, and it saw explosive growth. Is now the time to invest?
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This Apartment Stock Saw Explosive Growth in 2021: Is Now the Time to Invest?