Matrix Reports
LA: Affordable Housing Wanted
Rent growth in the city is continuing at a rate double the national average, largely due to solid gains in a few key employment sectors and renter interest pivoting toward the area’s suburbs.
Rent Growth
Rents were up 1.5% nationwide in May, down 40 basis points from April, 90 basis points from March and well below the 5.3% growth rate of a year ago. Deceleration is more than firmly established, as the year-over-year growth rate has decreased for 13 straight months since reaching 5.4% in April 2016. The last time the year-over-year increase was as low as 1.5% was in April 2011.
Three Strikes: Multifamily Growth Slows for Third Consecutive Month
May 2017 marked the third consecutive month of rent growth deceleration and the 13th year-over-year slowdown, although development remains controlled.
Charlotte’s Boom
The metro’s multifamily market is one of the best-performing in the country, with healthy demand, job increases and strong growth potential.
Portland’s Charm
The city’s multifamily demand remains elevated, fueled by a healthy job market and an influx of young people for professional and lifestyle purposes.
Nashville’s Supply Side Shines
The area’s multifamily fundamentals continue to be solid on most levels. With strong demand fueled by robust population gains and consistent job growth, the market remains a hot ticket for investors.
Knoxville Gives It the Old College Try
The metro’s economy has benefited from gains in a number of sectors, pushing investment sales to a new cycle high.
The Inland Empire Expands
Rent growth in San Bernardino and Riverside counties continued its extremely fast pace over the past year, supported by a healthy job market and moderate inventory expansion.
Rent Growth
Rents were up 2.0% nationwide in April, down 50 basis points from March and well below the 5.5% growth rate of a year ago. The 2.0% year-over-year increase is the lowest it’s been since April 2011, when rents were up only 1.5%.
Jacksonville’s Rapid Growth
A healthy employment climate, an inexpensive cost of living and mild weather are attracting jobs and new residents to Jacksonville, creating demand for apartments and bolstering rent growth.