Metros

Solid population growth and a strong economy continued to boost Atlanta’s rental market, with the city ranking third for rent growth among major U.S. metros last year.

Continuing to benefit from Manhattan’s spillover effect and steady job gains, the borough's rental market ended 2018 on a positive note.

Although deliveries hit a cycle peak, the metro’s rapidly expanding economy and steady demographic expansion continue to boost a sturdy rental market.

Rent growth in the metro continued to accelerate and reached 3.2 percent year-over-year as of January, due to increasing demand, particularly for Lifestyle units.

Demand is steady in Detroit, bolstered by household formation and job gains. Drawn by the metro’s low entry costs and attractive yields, investors are targeting assets with a value-add component.

Despite a cycle peak in new apartment developments last year, demand remained strong, maintaining occupancy within a relatively tight range.

Despite a steady pipeline of new product, rent growth across the metro continued, ending 2018 at 3.6 percent year-over-year, while a healthy demand has put upward pressure on occupancy.

Large investments in the area have brought the metro’s job growth in line with the U.S. average for the first time this cycle, boosting rental demand along the way.

Knoxville’s multifamily market is showing signs of growth as the cycle stretches further. Slow construction activity and healthy demand are putting upward pressure on occupancy and rents.

Despite a new cycle peak in apartment deliveries in 2018, the average rent growth across the metro remained above the national average.

Despite an uptick in deliveries, demand for apartments remains robust across the metro, where occupancy in stabilized properties rose to 94.9 percent as of November.

Rent growth began to accelerate in the fourth quarter, closing 2018 at 2.9 percent year-over-year, while investors boosted annual deal volume to $1.4 billion.