Which of 2017’s Top Stories Will Impact Next Year?
The multifamily sector has grappled with any number of challenges this year: record-breaking natural disasters, policy uncertainties and concerns over affordability, to name a few.
Economic Diversity Drives Growth in Columbus
As the economy improves, the cost of living remains relatively affordable in Columbus, attracting more residents to the area and boosting multifamily demand. A business-friendly environment also draws investors and entrepreneurs to Ohio’s largest city, prompting more people to rejoin the workforce.
Transactions: December 2017
The following is a list of transactions that were announced between Sept. 29 and Oct. 26, 2017.
Pittsburgh Reveals Its Strength
The region’s universities continue to provide a skilled workforce for the technology, robotics, education, health-care and financial sectors, pushing the city’s economy forward and sustaining multifamily demand.
Jobs, Population Growth Sustain Demand in San Jose
A competitive economy is keeping the metro’s unemployment rate down. With Silicon Valley continuing to expand, demand for rentals is likely to remain healthy, albeit less frothy.
Startup Scene Boosts St. Louis Rental Market
Following the path of other Midwestern metros, the city is slowly transforming from an industrial center into a modern city with solid job gains in the health-care, business and technology sectors.
Demand Breaks Records in Salt Lake City
Solid employment gains are producing a high demand for apartments across the metro, which continues to attract investors and developers alike.
Rents Contract as New Units Come Online in Brooklyn
Brooklyn is seeing an explosive expansion of office-using industries and the tax environment is having a positive effect on multifamily construction and on future affordable housing development.
Supply Compresses Rent Growth in Manhattan
Employment growth persisted this year, despite some significant losses in the information and manufacturing industries. Meanwhile, investment activity has started to slow.
Rent Deceleration Continues in San Francisco
The metro’s economy is strong and market indicators reflect continued growth, albeit at a slower pace than a couple of years ago. As supply continues to catch up with demand, Yardi Matrix expects rents to rise 0.8 percent in 2017.