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.
Top 10 Portland Apartment Owners
Demand is on the rise in the city again, after three years of increased development. Rent growth continues to slow down and is now on par with the national average.
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.
Population Growth Sustains Demand in Nashville
The city is slowly diversifying its economy, venturing from reliance on the entertainment industry. In response to the growing demand, developers are ramping up construction, with more than 13,000 units underway as of July.
Phoenix: Maintaining Momentum in the Desert
The metro is outpacing the country in job creation and population growth, drawing multifamily developers and investors looking for opportunities in second-tier markets.
July 2017
Commentary and data were supplied by a senior economist with the National Association of Home Builders (NAHB).
Top 5 NYC Multifamily Sales
PropertyShark compiled the top 5 multifamily sales for August 2017 in New York City.
Rent Growth
Rents were up 2.4% nationwide, a 20-basis-point decline from July. Although overall gains have slowed during the summer months, August kept alive a streak during which rents have increased every month this year.