{"id":6695,"date":"2017-10-20T00:00:00","date_gmt":"2017-10-20T00:00:00","guid":{"rendered":"https:\/\/amazingproperty.com.ng\/blog\/how-much-amazons-hq2-will-drive-up-rents\/"},"modified":"2017-10-20T00:00:00","modified_gmt":"2017-10-20T00:00:00","slug":"how-much-amazons-hq2-will-drive-up-rents","status":"publish","type":"post","link":"https:\/\/amazingproperty.com.ng\/blog\/how-much-amazons-hq2-will-drive-up-rents\/","title":{"rendered":"How Much Amazon\u2019s HQ2 Will Drive Up Rents"},"content":{"rendered":"<p>\n<\/p>\n<div property=\"dc:description\" readability=\"54.321428571429\"><!--paging_filter--><\/p>\n<p>About 100 cities across the country have submitted their final bids to be the home of\u00a0Amazon\u2019s second headquarters, known as HQ2, as municipal leaders argued for why their community is the best pick. However, it won\u2019t be all good news for the metro Amazon ultimately selects in 2018, especially when it comes to <a href=\"https:\/\/amazingproperty.com.ng\/blog\/property-center-nigeria\/\">housing<\/a>. HQ2 will bring with it up to 50,000 new jobs, which will undoubtedly put greater upward pressure on already sky-high rents and further exacerbate housing shortages.<\/p>\n<p>Housing website ApartmentList.com conducted an analysis of the potential impact on the rental market in 15 metros contending for HQ2. The site predicts that on top of these cities\u2019 normal annual rate of growth in rents, HQ2 would spur an additional yearly rent increase of up to 2 percent.<\/p>\n<p>ApartmentList.com analyzed the data to determine how much housing each market could build and the overall impact to the city from an influx of high-wage earners. The predictions also factored in additional job growth from supplementary workers in industries that could\u00a0support HQ2 (which would being an estimated 66,250 more residents over the next decade). The 15 metros analyzed were broken down into three main groups\u2014the least, moderately, and most impacted\u2014with different estimates about how much Amazon\u2019s arrival could impact median rents over the next decade. These additional rent increases would be on top of currently estimated increases in rent.<\/p>\n<p>ApartmentList.com identified the following cities&#8217; rental markets as being \u201cmost impacted\u201d by HQ2:<\/p>\n<ul>\n<li>Raleigh, N.C. (1.5 percent to 2 percent annual increase in rents)<\/li>\n<li>San Jose, Calif. (1 percent to 1.6 percent)<\/li>\n<li>Baltimore (1 percent to 1.3 percent)<\/li>\n<li>Pittsburgh (1.2 percent to 1.6 percent)<\/li>\n<\/ul>\n<p>In its second tier of cities, ApartmentList.com says these metros would be <span style=\"font-size: 14.4px;\">\u201c<\/span>moderately impacted<span style=\"font-size: 14.4px;\">\u201d<\/span>:<\/p>\n<ul>\n<li>Denver (0.8 percent to 1.1 percent)<\/li>\n<li>Austin, Texas (0.8 percent to 1 percent)<\/li>\n<li>Minneapolis (0.7 percent to 1 percent)<\/li>\n<li>Philadelphia (0.6 percent to 0.8 percent)<\/li>\n<li>Detroit (0.8 percent to 1.2 percent)<\/li>\n<li>Boston (0.5 percent to 0.8 percent)<\/li>\n<li>Atlanta (0.5 percent to 0.7 percent)<\/li>\n<\/ul>\n<p>The third group of potential HQ2 candidates are the <span style=\"font-size: 14.4px;\">\u201c<\/span>least impacted<span style=\"font-size: 14.4px;\">\u201d<\/span>:<\/p>\n<ul>\n<li>Washington, D.C. (0.3 percent to 0.5 percent)<\/li>\n<li>Chicago (0.4 percent to 0.6 percent)<\/li>\n<li>Dallas (0.2 percent to 0.4 percent)<\/li>\n<li>Los Angeles (0.3 percent to 0.5 percent)<\/li>\n<\/ul>\n<p>\u201cAmazon will increase rents in any metro it chooses for its HQ2, but certain metros are more sensitive to its impacts than others, with rents expected to rise an additional 0.3 percent to 2 percent a year in cities across the country,\u201d ApartmentList.com reports. \u201cMetros with larger populations, more vacant units, the ability to ramp up construction, and higher median incomes will see less of an impact. Renters in cities that are already experiencing rapid rent increases, such as Denver and Austin, should expect even faster rent growth. \u2026 While homeowners may benefit from increased property values, renters and those hoping to purchase homes will feel the impact more severely.\u201d<\/p>\n<p><img data-recalc-dims=\"1\" decoding=\"async\" alt=\"\" src=\"https:\/\/i0.wp.com\/realtormag.realtor.org\/sites\/realtormag.realtor.org\/files\/rmo_files\/images\/2017_oct\/ApartmentList_Amazon%20chart.png\" style=\"width: 620px; height: 491px;\"\/><\/p>\n<p><em>Source: \u201cPrime Markup: How Much Would Amazon HQ2 Drive Up Rents?\u201d Apartment List (Oct. 13, 2017)<\/em><\/p>\n<\/div>\n<p><a hre=\"http:\/\/feedproxy.google.com\/~r\/DailyRealEstateNews\/~3\/mRLSJWaLo4I\/how-much-amazon-s-hq2-will-drive-up-rents\"> Realtors <\/a><\/p>\n","protected":false},"excerpt":{"rendered":"<p>About 100 cities across the country have submitted their final bids to be the home of\u00a0Amazon\u2019s &hellip; <a title=\"How Much Amazon\u2019s HQ2 Will Drive Up Rents\" class=\"hm-read-more\" href=\"https:\/\/amazingproperty.com.ng\/blog\/how-much-amazons-hq2-will-drive-up-rents\/\"><span class=\"screen-reader-text\">How Much Amazon\u2019s HQ2 Will Drive Up Rents<\/span>Read more<\/a><\/p>\n","protected":false},"author":1,"featured_media":6696,"comment_status":"closed","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"advanced_seo_description":"","jetpack_seo_html_title":"","jetpack_seo_noindex":false,"jetpack_seo_schema_type":"","_jetpack_newsletter_access":"","_jetpack_dont_email_post_to_subs":false,"_jetpack_newsletter_tier_id":0,"_jetpack_memberships_contains_paywalled_content":false,"_jetpack_feature_clip_id":0,"_jetpack_memberships_contains_paid_content":false,"footnotes":"","jetpack_publicize_message":"","jetpack_publicize_feature_enabled":true,"jetpack_social_post_already_shared":true,"jetpack_social_options":{"image_generator_settings":{"template":"highway","default_image_id":0,"font":"","enabled":false},"version":2},"jetpack_post_was_ever_published":false},"categories":[4],"tags":[15230,15239,2890,12908,543,627,127,344,1007,41,818,479,678,15282,15309],"class_list":["post-6695","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-opportunities-in-new-markets","tag-amazon","tag-chase","tag-construction","tag-home","tag-home-buying-guide","tag-homeowners","tag-homes","tag-housing","tag-owners","tag-property","tag-real","tag-realtor","tag-rental","tag-ross","tag-ups"],"jetpack_publicize_connections":[],"jetpack_featured_media_url":"https:\/\/i0.wp.com\/amazingproperty.com.ng\/blog\/wp-content\/uploads\/2017\/10\/ApartmentList_Amazon%20chart.png?fit=644%2C510&ssl=1","jetpack_sharing_enabled":true,"jetpack-related-posts":[{"id":7861,"url":"https:\/\/amazingproperty.com.ng\/blog\/amazons-hq2-financial-bonanza-for-winning-city-or-problematic-nightmare\/","url_meta":{"origin":6695,"position":0},"title":"Amazon&#039;s HQ2: Financial Bonanza For Winning City Or Problematic Nightmare?","author":"Amazing Property","date":"January 21, 2018","format":false,"excerpt":"Crossing your fingers and saying a nightly prayer that your city will be the winner in the Amazon HQ2 sweepstakes? Given all the hype about new jobs and an influx of money pouring into the chosen city, that's not surprising. But is having an Amazon headquarters in your city all\u2026","rel":"","context":"In &quot;Opportunities In New Markets&quot;","block_context":{"text":"Opportunities In New Markets","link":"https:\/\/amazingproperty.com.ng\/blog\/category\/opportunities-in-new-markets\/"},"img":{"alt_text":"D45d94a3d9325d16f292896fd7431000 S.jpg","src":"https:\/\/i0.wp.com\/amazingproperty.com.ng\/blog\/wp-content\/uploads\/2018\/01\/d45d94a3d9325d16f292896fd7431000_S.jpg?fit=424%2C272&ssl=1&resize=350%2C200","width":350,"height":200},"classes":[]},{"id":127069,"url":"https:\/\/amazingproperty.com.ng\/blog\/us-housing-market-trends-2024\/","url_meta":{"origin":6695,"position":1},"title":"US Housing Market Trends 2024","author":"Amazing Property","date":"May 24, 2024","format":false,"excerpt":"Current Factors Influencing Home Prices Home prices have seen extraordinary growth due to the pandemic. Increased demand, rising building costs, and long-term supply constraints have all played a part. Let's break down these factors influencing home prices. Market Disruptions Pandemic-related disruptions such as increased demand and rising building costs are\u2026","rel":"","context":"In &quot;RealEstate&quot;","block_context":{"text":"RealEstate","link":"https:\/\/amazingproperty.com.ng\/blog\/category\/realestate\/"},"img":{"alt_text":"","src":"https:\/\/i0.wp.com\/amazingproperty.com.ng\/blog\/wp-content\/uploads\/images\/factors-influencing-home-prices-post-pandemic.jpeg?fit=1200%2C900&ssl=1&resize=350%2C200","width":350,"height":200,"srcset":"https:\/\/i0.wp.com\/amazingproperty.com.ng\/blog\/wp-content\/uploads\/images\/factors-influencing-home-prices-post-pandemic.jpeg?fit=1200%2C900&ssl=1&resize=350%2C200 1x, https:\/\/i0.wp.com\/amazingproperty.com.ng\/blog\/wp-content\/uploads\/images\/factors-influencing-home-prices-post-pandemic.jpeg?fit=1200%2C900&ssl=1&resize=525%2C300 1.5x, https:\/\/i0.wp.com\/amazingproperty.com.ng\/blog\/wp-content\/uploads\/images\/factors-influencing-home-prices-post-pandemic.jpeg?fit=1200%2C900&ssl=1&resize=700%2C400 2x, https:\/\/i0.wp.com\/amazingproperty.com.ng\/blog\/wp-content\/uploads\/images\/factors-influencing-home-prices-post-pandemic.jpeg?fit=1200%2C900&ssl=1&resize=1050%2C600 3x"},"classes":[]},{"id":127949,"url":"https:\/\/amazingproperty.com.ng\/blog\/high-rental-yield-properties\/","url_meta":{"origin":6695,"position":2},"title":"High Rental Yield Properties","author":"Amazing Property","date":"October 19, 2024","format":false,"excerpt":"Understanding Rental Yields Rental yields are essential for evaluating real estate investments. Gross rental yield is calculated by dividing annual rental income by the property's value and multiplying by 100 to get a percentage. For example, a property earning $18,000 annually with a $300,000 value would have a 6% gross\u2026","rel":"","context":"In &quot;RealEstate&quot;","block_context":{"text":"RealEstate","link":"https:\/\/amazingproperty.com.ng\/blog\/category\/realestate\/"},"img":{"alt_text":"","src":"https:\/\/i0.wp.com\/amazingproperty.com.ng\/blog\/wp-content\/uploads\/images\/real-estate-investment-landscape.jpeg?fit=940%2C627&ssl=1&resize=350%2C200","width":350,"height":200,"srcset":"https:\/\/i0.wp.com\/amazingproperty.com.ng\/blog\/wp-content\/uploads\/images\/real-estate-investment-landscape.jpeg?fit=940%2C627&ssl=1&resize=350%2C200 1x, https:\/\/i0.wp.com\/amazingproperty.com.ng\/blog\/wp-content\/uploads\/images\/real-estate-investment-landscape.jpeg?fit=940%2C627&ssl=1&resize=525%2C300 1.5x, https:\/\/i0.wp.com\/amazingproperty.com.ng\/blog\/wp-content\/uploads\/images\/real-estate-investment-landscape.jpeg?fit=940%2C627&ssl=1&resize=700%2C400 2x"},"classes":[]},{"id":7116,"url":"https:\/\/amazingproperty.com.ng\/blog\/rental-costs-are-still-surging-in-these-cities\/","url_meta":{"origin":6695,"position":3},"title":"Rental Costs Are Still Surging in These Cities","author":"Amazing Property","date":"November 15, 2017","format":false,"excerpt":"Rents have been slowing in many areas, but exceptions are still giving renters sticker shock. 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There are about 43 million renters in the U.S., which is more than a third of U.S. households,\u2026","rel":"","context":"In &quot;Opportunities In New Markets&quot;","block_context":{"text":"Opportunities In New Markets","link":"https:\/\/amazingproperty.com.ng\/blog\/category\/opportunities-in-new-markets\/"},"img":{"alt_text":"2017 Rent Trends By State.png","src":"https:\/\/i0.wp.com\/amazingproperty.com.ng\/blog\/wp-content\/uploads\/2018\/01\/2017%20Rent%20Trends%20By%20State.png?fit=1000%2C938&ssl=1&resize=350%2C200","width":350,"height":200,"srcset":"https:\/\/i0.wp.com\/amazingproperty.com.ng\/blog\/wp-content\/uploads\/2018\/01\/2017%20Rent%20Trends%20By%20State.png?fit=1000%2C938&ssl=1&resize=350%2C200 1x, https:\/\/i0.wp.com\/amazingproperty.com.ng\/blog\/wp-content\/uploads\/2018\/01\/2017%20Rent%20Trends%20By%20State.png?fit=1000%2C938&ssl=1&resize=525%2C300 1.5x, https:\/\/i0.wp.com\/amazingproperty.com.ng\/blog\/wp-content\/uploads\/2018\/01\/2017%20Rent%20Trends%20By%20State.png?fit=1000%2C938&ssl=1&resize=700%2C400 2x"},"classes":[]},{"id":3367,"url":"https:\/\/amazingproperty.com.ng\/blog\/10-markets-where-rents-are-cooling-the-most\/","url_meta":{"origin":6695,"position":5},"title":"10 Markets Where Rents Are Cooling the Most","author":"Amazing Property","date":"April 13, 2017","format":false,"excerpt":"Some of the hottest rental markets in the country may have finally hit their peak. 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Read more: Renters Are Starting to Feel Richer, But...\u2026","rel":"","context":"In &quot;Opportunities In New Markets&quot;","block_context":{"text":"Opportunities In New Markets","link":"https:\/\/amazingproperty.com.ng\/blog\/category\/opportunities-in-new-markets\/"},"img":{"alt_text":"","src":"","width":0,"height":0},"classes":[]}],"_links":{"self":[{"href":"https:\/\/amazingproperty.com.ng\/blog\/wp-json\/wp\/v2\/posts\/6695","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/amazingproperty.com.ng\/blog\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/amazingproperty.com.ng\/blog\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/amazingproperty.com.ng\/blog\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/amazingproperty.com.ng\/blog\/wp-json\/wp\/v2\/comments?post=6695"}],"version-history":[{"count":0,"href":"https:\/\/amazingproperty.com.ng\/blog\/wp-json\/wp\/v2\/posts\/6695\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/amazingproperty.com.ng\/blog\/wp-json\/wp\/v2\/media\/6696"}],"wp:attachment":[{"href":"https:\/\/amazingproperty.com.ng\/blog\/wp-json\/wp\/v2\/media?parent=6695"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/amazingproperty.com.ng\/blog\/wp-json\/wp\/v2\/categories?post=6695"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/amazingproperty.com.ng\/blog\/wp-json\/wp\/v2\/tags?post=6695"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}