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| 08/16/2024 In this issue of MarketRent™ powered by Clarendon, we highlight Hartford’s evolving rental market, where walkability is driving rental price increases. Apartments in high-walk-score neighborhoods, offering easy access to amenities and transportation, now command higher rents, especially for two-bedroom units. Hartford’s revitalization, with significant development planned for areas like Clay Arsenal and Northeast, is fueling this trend. These neighborhoods are set to become vibrant, pedestrian-friendly hubs that attract today’s renters. We also share a variety of data tools and visualizations to help you understand the connection between walkability rental prices and development in Hartford. |
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| RESEARCH Hartford on the Move: Walkable Neighborhoods Driving Rental Demand |
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| Hartford's rental market is shifting towards valuing walkability, with apartments in high-walk-score neighborhoods—those with easy access to amenities and transport—commanding higher rents, especially for two-bedroom units. This trend is driven by the city's revitalization efforts and upcoming multifamily developments in areas like Clay Arsenal and Northeast. For real estate investors, focusing on properties in walkable neighborhoods could offer lucrative rental yields and align with the city's evolving urban landscape. This shift reflects a broader cultural move towards sustainable, community-focused living. Read more and also explore recent development in the area. |
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| RESEARCH Explore Developments in Clay Arsenal/Northeast Neighborhoods |
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| Hartford's North End, including Clay Arsenal and Northeast, is transforming with new multifamily developments and revitalization projects. Clay Arsenal has shifted from an industrial area to a vibrant neighborhood with renovated buildings and a lively commercial corridor. Northeast, known for its historic homes and parks, is seeing significant redevelopment, including a $36 million project. These changes, supported by city investments and community programs, are enhancing walkability and attracting new residents, making the North End an increasingly desirable area. |
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| All content is provided herein “as is” and neither Clarendon Valuation Advisors, LLC (“the Company”) nor its affiliated or related entities, nor any person involved in the creation, production and distribution of the content make any warranties, express or implied. The Company does not make any representations regarding the reliability, usefulness, completeness, accuracy, currency nor represent that use of any information provided herein would not infringe on other third party rights. The Company shall not be liable for any direct, indirect or consequential damages to the reader or a third party arising from the use of the information contained herein . © Copyright MarketRent™ | Clarendon. All Rights Reserved. |
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