Matrix (Occupancy)
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.
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.
Kansas City’s New Look
The metro is in the midst of a transformation, growing as a financial and research center, with increased investment in infrastructure, all of which support multifamily fundamentals, Yardi Matrix data shows.
Nashville’s Supply Side Shines
With strong demand fueled by robust population gains and consistent job growth, the market remains a hot ticket. Investors acquired more than $1 billion in apartments in 2016, according to Yardi Matrix.
Charlotte’s Boom
The metro’s multifamily market is one of the best-performing in the country, with healthy demand, job increases and strong growth potential.
Jacksonville’s Rapid Growth
A healthy employment climate, an inexpensive cost of living and mild weather are attracting jobs and new residents, creating demand for apartments and bolstering rent growth, according to Yardi Matrix.
Rapid Growth in Raleigh-Durham
The metro continues to appeal to investors who are being priced out or struggling to find high acquisition yields in major markets. The combination of job and population growth has generated a strong demand for apartments, with average rents reaching $1,075.
Phoenix Rising
The Valley of the Sun is riding a wave of solid performance. New supply is keeping pace with demand, helping to maintain healthy vacancy rates.