Economy Watch: Apartment Supply Not Keeping Up with Demand in Most Markets
Out of the nation’s 50 largest metros, only 10 have enough new housing supply to keep pace with job growth, according to a new report from Apartment List, indicating that a lack of new construction is contributing to the affordability crisis in many parts of the country.
Steady Growth Cultivates Building Boom in Columbus
The multifamily market is expanding in the area, which has been an economic standout in Ohio and the Midwest. The metro’s tight labor market is lifting average wages, attracting more residents and bolstering demand for apartments.
Development Boom Tempers Rent Growth in Chicago
The city has seen costs moderate, in keeping with the nation as a whole, and features a bifurcation between luxury and working-class units.
Eds and Meds Spur Growth in Pittsburgh
Once a predominantly blue-collar city, the area today relies on a diversified innovation economy and a highly educated workforce.
Dallas: Corporate Juggernaut
The DFW metro continues to achieve some of the fastest job and household growth rates in the U.S. The area’s economy is among the most diverse in the country and added 145,000 residents in 2016 alone.
May 2017
Commentary and data were supplied by Michael Neal, a senior economist with the National Association of Home Builders (NAHB).
Top 5 NYC Multifamily Sales
PropertyShark compiled the top 5 multifamily sales for June 2017 in New York City.
Strong Development Softens Demand in Portland
Anchored by a diversifying economy and fueled by an expanding population, the city’s multifamily market remains strong despite its recent slowing rent growth.
Tech Scene Stays Hot, Rent Growth Cools in San Jose
Silicon Valley is the nation’s largest tech hub, a top-performing venture capital market and one of the most prominent locations for startups.
Solid Fundamentals, Positive Momentum in Atlanta
The city has become an economic powerhouse in recent years. It is currently one of the fastest-growing metro areas in the nation.