New constructions in Southern BR

[Karen W.]

What does everyone think of the recent rapid building of properties particularly apartments in southern Baton Rouge? Anyone affected by it? Seems to me like rent has come down a little bit compared to last year or the year before. Anyone else?

[Robert Leonard]

Hello @Karen W. I haven’t seen it yet, but it is past due for rents to start to decline with the general consensus overbuilding in multifamily in the area. We expereinced an anomaly of “temporary” demand from the flood of August 2016 that delayed the expected declines and softening of the rental market.  As people return to “permanent” housing, we’ll see how that unfolds.  I’m looking forward the the Baton Rouge Trends meeting that provides an update of market data by each real estate category.

http://www.batonrougetrends.net/