New from RealPage Analytics: Apartment Affordability, Student Housing Performance and Demand Drivers
RealPage Analytics provides actionable apartment market research to apartment investors and operators. Here’s the latest from RealPage’s multifamily intelligence division.
Affordability concerns overstated, lease transactions show
Rental affordability has come under close scrutiny in recent years, as activists point to strong rent growth in the apartment market. But data exclusive to the market-rate apartment sector shows affordability issues are vastly overstated.
RealPage analyzed data from millions of individual lease transactions to determine how much of renters’ incomes are actually going to apartment rents each month. Overall, U.S. apartments remain affordable, but rent-to-income ratios vary product class and by metro area.
National permit volumes surpass 400K units in February
Annual apartment permitting activity surpassed the 400,000-unit mark in the latest U.S. authorizations data, while most top markets for annual volumes saw increases in February.
In a new report, RealPage analyzes national permit trends and looks at the top 10 markets for annual and monthly authorization activity.
Student housing performance remains stable
The latest student housing performance data indicates the sector is stable, with supply volumes and overall performances in line with those of recent years. However, performances vary by market segment, as university-specific supply volumes and proximity to campus continue to influence performances.
Texas metros lead for population growth in 2017
A notable number of new Texans helped the South region lead the nation for population growth in 2017.
In a new report, RealPage explores new population data released by the U.S. Census Bureau and ranks the top metros for growth in the past year.
Job data revisions shift employment picture for 2017
Job growth numbers may have been overstated in 2017, but revisions weren’t as sharp as in previous years, according to the latest data from the Bureau of Labor Statistics. The U.S. added 2.26 million jobs in 2017. That revised number is down by 28,000 positions, or 1.2%, from the initial figure.
However, adjustments were more significant in some metro areas– especially those in which the initial data was overstated.
At the beginning of each year, the BLS releases revised job numbers for the previous year. This revised data contains additional information from apartment market research that was not available at the time of the initial release. It provides a more accurate depiction of the jobs each metro gained or lost.