How Austin’s Growth Creates Opportunities for Multifamily Developers, Investors

With its unique culture, relatively low cost of living, warm weather and booming economy, Austin has emerged as one of the fastest-growing cities in the United States. As more people and companies flock to this vibrant city, the multifamily real estate market looks primed for growth from both a development and investment perspective. At its core, this real estate potential lies in the fact that the housing supply needs to keep up with a growing population of workers. According to the Austin …

Colorado Is Experiencing Residential Growth, But Uncertainty Could Temper That

The past 10 years has brought population growth to Colorado, which many associate with Amendment 64, or the legalization of marijuana, along with an overall flat interest rate. The new issue is whether Colorado can sustain this growth, despite the heavy focus on affordability.    So far, however, the state has experienced continued growth in population, income and multifamily sales volume, according to CoStar. Tapestry Segmentation also reports a median household income in the Greater Denver …

Orange County’s Multifamily Market Continues to Grow

Orange County’s multifamily housing market remained exceptionally strong throughout 2019. The average asking rent closed the quarter at $2,055 per unit, up 3.3 percent from the fourth quarter of 2018. This was the highest asking rent on record, up 34.5 percent from the prior peak reached in the third quarter of 2008. The Central submarket saw the largest year-over-year rental rate increase, with the asking rent there rising 3.8 percent to $1,920 per unit. This quarter, the Irvine submarket …

Capital Continues to Flow to the City of Fountains

Private capital delivered several new investors to Kansas City in 2019 and the new year will undoubtedly see plenty of competitive bidding and elevated pricing. Overall, the investment market continues to be supported by Kansas City’s diversified economy, with job growth weighted on the Kansas side at 2.7 percent over Missouri’s 1.1 percent (as of August 2019). Targeting talent Kansas City’s low cost of living, educated workforce and business-friendly environment attracted several …

Selling Affordability is Crucial in Metro Boston

With a pressing demand for new housing in the Boston area and communities struggling to provide affordable options to mitigate the effect of rising prices, the barriers to providing new affordable multifamily properties remain significant. Here in the Boston region, the scale of the problem is immense. Boston’s Metropolitan Area Planning Council recently declared a need for 185,000 new units of housing over next 10 or so years in the 15 cities and towns that comprise the inner core of the …

Phoenix’s Growth Keeps The Multifamily Sector Hot

Stemming from the ashes of 2009 — a decade later and a decade wiser — Phoenix and the surrounding Maricopa County has exploded to outpace the national averages in both rent and job growth. In fact, the entire State of Arizona is booming in population growth and job production. The Census Bureau just released its American Community Survey “One-Year Estimates” in which Arizona was named the fastest-growing state in the nation with a year-over-year growth of 2.2 percent.[caption …

Investor Demand for Texas Affordable Housing Intensifies

The declining affordability of housing has become a worsening problem in many areas throughout the country, and Texas is no exception. Despite talk of a cooling housing market, home prices in both North and Central Texas are hitting high-water marks, making the dream of homeownership less likely to become a reality for many people. According to the Austin Board of Realtors, median home prices in Austin hit an all-time high in May, topping $400,000. As for North Texas, a report from ATTOM …

Dynamic St. Louis Multifamily Real Estate Market Is on a Roll

The greater St. Louis metropolitan statistical area (MSA) includes the city of St. Louis, St. Louis County, Franklin, Jefferson, Lincoln, Warren and St. Charles County, as well as various counties in Illinois collectively known as the Metro East. The MSA ranks as the 21st largest in the country with a population of approximately 2.8 million residents and features many Fortune 500 and Fortune 1000 companies. St. Louis has a very diverse economy with the largest categories of employment base in …

Healthy Occupancy Hinges on Winning the Apartment Amenities Arms Race

When deciding where to live, the choice isn’t always a matter of finding the newest property on the market. Oftentimes it comes down to which property can most effectively meet and exceed your expectations as a renter. For example, these two “blind” multifamily rental listings identified below are within the same five-mile radius in Upstate New York. They’re both firmly in the luxury rental space and offer in-unit washers and dryers and dishwashers. In other words, they’re …

Hawaii’s Rising Rents Continue to Support Multifamily Investment Interest

As one of the premier global tourist destinations in the world, the Hawaii market is dominated by condos and hotels. It is also home to mega investment deals. A review of Hawaii’s investment market over the past three years shows that the hotel industry has made up the following percentage of the top 10 deals for each year: • 91 percent in 2017 • 55 percent in 2018 • 23 percent in 2019 The total sales volume for these deals has also seen a decline from more than $1.5 billion in …

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