Matrix Reports
Investors Stay Bullish, Rent Growth Slows in Baltimore
Although fueled by demand for live-work-play communities and an ongoing urban development surge, the city’s multifamily market fundamentals continue to lag behind the national trend.
Chicago Makes Room for More Growth
The metro continued to attract companies looking to relocate or expand, producing job gains in high-paying sectors, including financial activities. The city was slated to add some 9,000 multifamily units to its inventory in 2017, marking a post-recession high.
Supply Catches Up With Demand in Austin
The Texas capital boasts a strong economic and population growth, maintaining a steady demand for multifamily, despite the temporary surge in supply.
Interest Stays High in LA
Rent growth continues to derive from a disconnect between growing supply in the Lifestyle segment and demand for workforce properties.
Multifamily Rents Idle in Third Quarter
After a robust first half of the year where average rents grew by $33, there was a summer slowdown, with rents increasing by only $1 in the third quarter.
Charlotte Teems With Demand Drivers
Employment growth made the city an attractive target for new and expanding businesses, while supporting long-term multifamily demand. Following last year’s cycle high in deliveries, some 6,800 units are slated for completion in 2017.
Jacksonville Set for Economic Expansion
Multifamily remains a solid investment in the metro, where both employment and population are growing. In turn, these positive demographic changes are creating strong rental demand.
Inland Empire Shows Strength
Backed by a booming industrial market, the metro added 48,000 jobs in the 12 months ending in July. Apartment deliveries have been slow throughout the cycle, but that is likely to increase as demand continues to push rents higher.
Kansas City’s Growth Story
Appealing workplaces, such as WeWork, are opening in the metro’s core submarkets, attracting young professionals to live-work-play environments. Job growth has exceeded the national average and helps maintain a robust demand for apartments.
Knoxville: No Longer in Nashville’s Shadow?
Both investors and developers are actively seeking opportunities in the market, which is expected to add new units at a rate that has not been met since 2011.