A new study by RentCafe concludes that Lincoln is Nebraska’s best city for finding new apartments in the state. All told, the state capital saw over 4,800 new apartments entering the market since 2012, a 32.6 percent increase in the stock of new apartments in the last 10 years.
Of the 4,824 new rentals added to the market in the past decade, more than 1,500 of them are in “top locations.” Top locations are defined by RentCafe as “class A, A+ and A- multifamily properties in well-maintained neighborhoods, within close proximity to major employment sources, good quality sources of shopping and entertainment, a large body of water, public transportation and/or major thoroughfares, that also have site frontage onto a golf course, private lake or park and nice city views from a mountainside or a high-rise tower.” On average, Lincoln’s apartments are 939 square feet in size, which is in line with the national average.
According to the study, Lincoln apartments are in contrast with apartments built in Omaha. While Omaha had 38 percent more apartments entering the markets compared to Lincoln (more than 6,600), they are smaller, at an average of about 875 square feet. Only 839 of the new apartments are in coveted areas, too.
See the full study at RentCafe.