Matrix Reports
San Antonio Lures Investors
The city has a diversified economy and employment is growing in most industries. That has fueled demand for apartments, which is expected to remain high as the metro continues to add jobs and households at a rate above the national average, and as more residents move south to avoid the growing cost of housing in Austin.
Indianapolis: Full Speed Ahead
Demand for apartments continues to be strong, thanks to the locale’s relative affordability. The city’s high-quality education system and skilled workforce attract residents and employers, propelling economic growth.
Overbuilding in Richmond?
Following several years of strong supply, the area’s multifamily market is shifting down a gear. With almost 20,000 units in the pipeline, the metro is at risk of overbuilding.
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.