New from MPF Research: Urban Inventories, Downtown Rent Growth Leaders, Metro-specific Pricing Performance
MPF Research provides actionable market research to apartment investors and operators. Here’s the latest from RealPage’s multifamily intelligence division:
With the Downtown Building Spree, Urban Inventories Will Surge As Supply Peaks in 2017
Central business districts (CBDs) comprised only 3.7% of the total land area in 2016, but accounted for nearly 19% of all multifamily deliveries. In 2017, that supply figure could exceed 22%. In a new report, MPF Research breaks down the scale and significance of urban core completions.
On March 2, an interactive discussion will further explore these findings. Join MPF Research for a free, live webcast featuring new RealPage family member Jay Denton of Axiometrics, MPF Research Vice President Jay Parsons and RealPage Chief Economist Greg Willett.
Here’s a List: Downtown Rent Growth Leaders
Slowing – and even backtracking – rent growth in downtown areas where new properties complete is an emerging industry story. There are some metros, however, where downtown rents continue to rise at impressive rates.
In 2016, these 13 central neighborhoods enjoyed exceptional multifamily pricing power. Central Tampa and Central Las Vegas top the submarket leaderboard, with respective increases of 10.9% and 9.5%.
Will Boston’s Rent Momentum Be Derailed By Continued Development, Affordability Challenges?
Despite years of relatively elevated supply levels, Boston continues to exhibit sound occupancy and pricing strength.
But as more product comes online, can the nation’s seventh-priciest market sustain its pricing power? Will demand fall behind, interrupting the market’s cruising performance? In Apartment Market Dynamics, economists detail Boston’s multifamily outlook.
Pricing Power Separates Salt Lake City From the National Trend
With a push from luxury stock, Salt Lake City apartment rents are rising more aggressively than they have in about a decade. Across all product classes, annual rent growth has topped 6% in three of the past four quarters.
Meanwhile, Salt Lake City’s resident turnover runs above the national norm, in part because there is greater loss of millennial renters to purchase. Despite this – and a steady stream of new supply – occupancy levels remain healthy.
Is Salt Lake City’s story too good to be true? MPF Research talks performance longevity in Apartment Market Dynamics.
Construction Continues to Stifle Pricing Performance in Washington, DC
In this edition of Apartment Market Dynamics, MPF Research talks Washington, DC’s amplified construction volumes, which have prompted operators to suppress pricing strategies.
Will the year ahead bring more of the same? How much influence will operator confidence have on 2017 market results?
For the latest multifamily market insights, visit MPF Research.