August Continues Rent-Gain Streak
The economy is doing well and multifamily demand has been consistent, so supply has been one of the trouble spots. However, rents have still increased every month during 2017.
Economy Watch: Apartment Rents Stabilize in Summer
The national median rent increased in September to its highest point of 2017, hitting $1,018, according to a recent ABODO report. However, the increase is only up a bit from January, when the median was $1,016.
Rent Growth Moderates, Demand Persists in Boston
Above-trend population gains and increasing job growth continue to make the city one of the most stable multifamily markets in the U.S.
Rents Rise Despite Surging Deliveries in Denver
Growth has cooled since the metro was among the nation’s leaders in appreciation, but rents are now increasing at a more sustainable pace.
Demographic Shifts Pick Up Speed in Orange County
Employment gains, a moderate supply of new development and a high barrier to homeownership have bolstered strong multifamily demand, pushing up rents and keeping occupancy over 96 percent.
Oil Prices, Supply Still Influence Market in Houston
The city’s apartment market continues to struggle as oil prices remain below $50 a barrel with little prospect that they will rise soon.
Tourism’s Power a Draw in Orlando
The city’s multifamily market is thriving due to healthy tourism, above-trend population gains and a rapidly growing economy.
June 2017
Commentary and data were supplied by a senior economist with the National Association of Home Builders (NAHB).
Rent Growth
Rents were up 2.6% nationwide in July, a 10-basis-point decline from June. Actual rents have increased every month this year, and are up 2.7% year-to-date.
Top 5 NYC Multifamily Sales
PropertyShark compiled the top 5 multifamily sales for July 2017 in New York City.