New from MPF Research: Metro-Level Rent Growth, Student Housing Supply, Texas’ Energy Sector
MPF Research provides actionable market research to apartment investors and operators. Here’s the latest from RealPage’s multifamily intelligence division.
West region dominates top 10 leaderboard for rent growth
Among the nation’s major markets, a handful displayed exceptional pricing power in 1st quarter 2017. Keeping with recent trends, each of the nation’s top performing markets could be found in the West and South regions.
Sacramento ranked #1 among the top 10 metros for pricing power, registering annual rent growth of 9.7%. The high-occupancy, limited-construction metro has been a rent growth leader for the past few years.
Each top contender, benefiting from strong underlying fundamentals or a late-cycle recovery boost, experienced growth of at least 5.0%.
How is new supply affecting student housing markets?
The volume of off-campus apartments is on the rise, as more investors enter the privately owned student housing space. How is an increase in new product affecting the sector?
In a new report, Alma Pena of Axiometrics, a RealPage company, provides an analysis of new supply’s impact on performance within major student housing markets.
Stabilization of oil prices trickles into Midland/Odessa’s apartment market
Rig counts across Texas oil fields can signal a potential boom or bust for the Lone Star State’s energy sector. Energy has a particular impact on the smaller, oil-driven Midland/Odessa metro.
As oil prices stabilize, apartment operators are cautiously responsive to the rebound of the hard-hit Petroplex. Though sluggish employment growth continues to challenge multifamily performance, demand surged in the year-ending 1st quarter 2017.
For the latest multifamily market insights, visit MPF Research.