MPF Research

Successful real estate investments require having the right product in the right market at the right time. Each week, MPF Research analysts highlight the latest apartment occupancy and rent growth statistics as well as other key performance indicators for rental housing.

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Home Price and Ownership Trends and How They Impact the Depth of a Renter Pool

Analyzing single-family affordability is an important data point to understanding the current and potential size of a metro’s renter pool. In other words, it’s another pin in the map to help you forecast. Here’s what we mean: The U.S. average for single-family home prices was four times larger the national median income. If we use […]

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Do Apartment Fundamentals and Valuations Line Up?

In the previous blog titled, “Structural Shift or Mean Reversion: Exploring the NOI Profit Margin Cycle,” we discussed the importance of the profit margin cycle in relation to the pro forma analysis. This piece will expand upon the original idea by including a valuation metric: price-to-sales ratio. A price-to-sales ratio is a common metric used […]

MSP1
 

Even as Supply Mounts, It’s Business as Usual for Apartments in the Twin Cities

New apartment supply is back up to recent highs in Minneapolis/St. Paul, but that hasn’t changed the story of the local apartment market in the Twin Cities. As usual, vacancies are few. And as usual, rent growth is limited.

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Structural Shift or Mean Reversion: Exploring the NOI Profit Margin Cycle

Investing is a game, a game ruled by expectations. Future expectations are commonly shaped by the business and real estate cycles, but for the purpose of this piece, let’s investigate a less frequently discussed topic – the profit margin cycle. For real estate investors, net operating income or NOI, is the primary focal point because it […]

Vegas
 

Is a Comeback Story Brewing in Las Vegas?

As most of the country’s apartment market has enjoyed boom times in recent years, Las Vegas has been left behind … until recently. In 3rd quarter, Las Vegas posted some impressive numbers – particularly in rents. Does this suggest renewed optimism moving ahead?

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Is Apartment Supply Heading to Where Households Are Forming?

What do household formation and apartment supply have in common? MPF Research looked at the relationship between total household growth and apartment supply growth among the top 50 U.S. metros, since the recession. Overall, we found that there is a linear relationship between the two. But by region, clear differences emerge, especially when viewed in […]

Tampa
 

Apartment Fundamentals Continue to Lag National Norms in Tampa Bay

Apartment fundamentals are improving in Tampa Bay, but they remain sub-par relative to the U.S. norms. And yet, Tampa Bay is now outpacing the national averages in one important category – apartment construction. What’s in store for the Tampa Bay apartment sector?

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Improve Decision Making with a Simple Gain-to-Loss Ratio

Because we’re in the midst of a bull cycle, risk management tends to be an afterthought for many people. However, with the lessons learned from 2008 to 2009, MPF Research thought it would be interesting to look at ways to quantify risk. For this piece, let’s investigate the gain-to-loss ratio. Don’t be surprised if this […]

Charleston
 

Among Smaller Apartment Markets, Charleston Ranks Near the Top

Charleston, South Carolina, has consistently ranked among the nation’s top-performing smaller markets in terms of apartment fundamentals in recent years. Strong tailwinds have propelled strong demand – more than enough to keep pace with a big wave of new supply so far.

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Coefficient of Variation: A New Way to Define Investment Risk

When the topic of risk management comes up, executives immediately think about business risk, while investors consider risk-adjusted returns. But few ever contextualize risk management as a tool to efficiently allocate capital. The foundation of risk management – the way in which risk is measured – is a calculation surrounding the spectrum of possible results. […]

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