Multifamily (Matrix)
Development Powers Through in Dallas
In the first half of 2018, roughly 11,500 multifamily units came online in the metro, which boasts the largest pipeline in the U.S.
Job, Population Growth Bolsters Demand in Houston
After a prolonged dry spell, multifamily rent growth is once again outpacing the U.S. average, reaching 3.9 percent for the 12 months ending in June.
Increasing Migration Sustains Demand in Salt Lake City
Boosted by a growing population and solid employment gains, Salt Lake City continues to attract multifamily developers. Roughly 8,600 units were under construction across the metro as of June.
Demand Fuels Growth in Chicago
Multifamily rents are increasing at the fastest pace since November 2016, reaching 1.8 percent year-over-year as of June.
San Jose Prices Out Many Residents
The metro’s lack of housing affordability continues to hinder population growth, as Silicon Valley’s multifamily market commands some of the highest rents in the nation, while the area’s median home price is approaching the $1 million mark.
Rent Growth Rebounds in San Francisco
The metro’s average multifamily rent went up 2.7 percent year-over-year through June, to $2,645, while housing affordability dropped to its lowest level since 2008.
Pricier Than It Used to Be in Atlanta
The metro’s average multifamily rent surpassed the $1,200 mark this year, having gained more than $200 since the summer of 2014.
Luxury Rentals Take a Hit in Richmond
As the majority of new stock is upscale, the metro’s multifamily rent growth decelerated in the first few months of 2018, falling behind the national average.
Health Care, Tech Drive Growth in Indianapolis
The pool of talent coming from local universities, along with a reasonable cost of living and doing business, continues to attract residents and employers to the area, boosting multifamily demand.
Sacramento’s Rent Growth Slows, Job Market Still Shines
Sacramento’s multifamily market continues to gain investor interest, especially for its value-add opportunities, while development maintains its pace, according to a recent report from Yardi Matrix.