An article published in the National Apartment Association (www.naahq.org) states that Mid rise Apartment properties continue to be built. According to Real Facts database. www.realfacts.com/html/tour/php
Out of 60 percent of new construction, 21 out of 35 were mid rise construction at least four stories no higher than 10.
Mid-rise apartment communities continue to be built, according to the RealFacts database. A total of 35 apartment communities were erected last year and in the early going of 2009. Interestingly, about 60 percent of the new construction--21 out of the 35--were mid-rise construction of at least four stories and no higher than 10. Such communities are also charging higher rent, on average. For instance, the average monthly rent for a one-bedroom/one-bathroom unit for all new construction is $1,353, while the average rent for a new, 1b/1b mid-rise unit is $1,539. The same holds true for apartments with two bedrooms and two baths. When looking at amenities for new mid-rise communities, there is very little difference from the typical low-rise developments. Instead, location is the biggest factor in the comparatively higher rents. Apartment Locating Specialists has agrees with the article and also has seen an evident increase in the building of Mid Rise Apartment Properties.
