I don’t understand the apartment rental market in the inner loop.

I have seen atleast 8-10 new high rises come up in downtown, montrose, river oaks etc in the last 18 months.

However, the rent is through the roof. 2 bedrooms starting at $3200 for most part.

How does it reconcile that there are many more options now but the rents have also gone up 30-40% compared to 2-3 years ago.