Rent

An apartment building under construction on June 13, 2023, in eastern Rapid City. (Seth Tupper/South Dakota Searchlight)

A historic housing construction boom may finally moderate rent hikes

BY: - October 18, 2023

An unprecedented surge in the nationwide construction of new housing — mostly apartments — may finally be making a dent in fast-rising rents that have been making life harder for tenants. More than 1.65 million housing units were under construction across the U.S. last year, the highest annual number since federal record-keeping started in 1969. […]