You can expect higher rents wherever Amazon’s HQ2 lands

Meanwhile homeowners could see property values rise

Faster. Better. Together.
Inman Connect San Francisco, Jul 16-20, 2018

The city eventually chosen by Amazon to host the tech and e-commerce giant’s second U.S. headquarters will benefit from an influx of 50,000 new jobs and $5 billion in direct investment -- but its apartment dwellers could feel the squeeze from higher rent, according to a new study by Apartment List. Over the next decade, rent in mid-market cities like Raleigh, Indianapolis and Columbus, Ohio, could rise by as much as 2 percent, or up to $15,000, in addition to baseline rent growth, according to the Apartment List analysis of rental rates in the 20 cities chosen by Amazon to host a second corporate headquarters. Renters in larger metro markets, like New York City and Los Angeles, could see rates rise less rapidly over the same period, to as much as $2,182 and $6,009, respectively. Homeowners, however, could see property values rise with the influx of 50,000 highly paid Amazon employees and as many as 66,250 supplementary workers over the next 10 years. “For renters, the Am...