The US Sun Belt stretches from Phoenix, Arizona, to Florida, and up to Tennessee and the Carolinas. The Sun Belt States experienced the largest surge in population beginning in 2020, however, it is being to subside and even slightly decline by 0.1% in some areas over the past year. During the surge of population growth in the Sun Belt, there was also rapid rent growth, resulting in high rents and low vacancies. Now that vacancies are beginning to rise throughout the region as population growth cools, we are beginning to see relatively affordable rents. yet new developments continue at a record pace.
For more information on the population impact over the Sun Belt states click here to read more!
