Leasing
LA: Affordable Housing Wanted
Continued improvement in the area’s job market and a steady household creation maintain rent growth in contrast to the nationwide cooling trend, Yardi Matrix data shows.
San Antonio Lures Investors
Demand for apartments is expected to remain high as more residents move south to avoid the rising cost of housing in Austin.
Sacramento Sets the Pace
Although multifamily rent gains across the country have been decelerating in recent months, Sacramento continues to outperform. The average rent across the metro was up 9 percent year-over-year as of April.
Detroit: Far From Singing the Blues
After years of little multifamily supply, development is beginning to pick up, with more than 4,000 units under construction. Rents increased 4.2 percent year-over-year as of April, Yardi Matrix data shows.
St. Louis Gears Up
Despite a slowly declining population, the city continues to see positive economic trends. Developers ramped up apartment deliveries in 2016, when 1,370 units came online, according to Yardi Matrix.
Albuquerque: On the Mend
Despite being the hub of New Mexico’s technology corridor, the metro has only experienced modest population and employment growth throughout the recent economic expansion, Yardi Matrix data shows.
LA Job Growth Spurs Leasing Surge
Los Angeles-based up-and-coming tech, engineering and financial firms drive the continued demand for office space, while development and leasing remain robust.
National Vacancies
Forecasts show that net absorption is expected to rise in the first quarter of 2018 only in the West region (33.5 percent) and is expected to decrease in the rest of the regions.
Overbuilding in Richmond?
With almost 20,000 units in the pipeline—more than a third of which are under construction—the metro is at risk of overbuilding. As new stock is putting a damper on growth, Yardi Matrix expects rents to rise by 3.5 percent in 2017.
Knoxville Gives It the Old College Try
The availability of affordable housing and favorable business costs make the area a fertile environment for new ventures. Home to the University of Tennessee, the market benefits from a steady stream of qualified professionals in some of the most promising job sectors.