Market Reports

A 3D render of the Edition in Minneapolis.

National Investors Bullish on Minneapolis Market

by Channing Hamilton April 27, 2023

The downtown Minneapolis apartment market continues to rebound from the COVID-19 pandemic’s lingering effects and the civil unrest that occurred following the murder of George Floyd in May 2020. A growing number of residents who fled to the suburbs during that tumultuous year have returned to the city. More broadly speaking, apartment rental demand is up across the metro area, rents have hit an all-time high, and occupancy rates have remained steady in the mid-90s percentagewise. Perhaps best of all for investors is that cap rates in the Minneapolis market …

April 27, 2023

A 3D render of Atlantic at Alamo, a cream and brown multifamily complex.

Development Investment Sales Market Reports Texas

Investors Bank on San Antonio’s Economic Growth

by Channing Hamilton April 5, 2023

A global recession may come to define 2023, but in San Antonio, investors are still bullish — provided they’re ready to play the long game. The region’s economic growth prospects, they say, inspire confidence the market will make it to the other side of 2023 with the rising rents and property values investors have come to know and love still intact. San Antonio is a young city with a budding job market and rapidly rising population. These favorable characteristics are spurring demand for apartments in the metro, which is touted …

April 5, 2023

A 3D render of 32nd and Eliot Apartments, a white and black contemporary style building.

Affordable Housing Colorado Development Market Reports Western

Developers Navigate Denver’s Increasingly Complex Market

by Channing Hamilton March 17, 2023

We know Denver’s housing story as it relates to the pandemic: The metro’s high quality of life, access to outdoor amenities and lower prices than other Western mainstays (California) drove demand sky-high for the past three years. With that came an increase in prices — as it always does. The average rent for an apartment in metro Denver was $1,838 in the fourth quarter of 2022, according to research firm Apartment Insights. This is actually a slight decrease from the thirdquarter average of $1,870 per month. Andrew Hamrick, general counsel …

March 17, 2023

Annapolis Junction, a six-story multifamily building with brick and slate exteriors.

Development Investment Sales Market Reports Northeast

Mid-Atlantic Region Capitalizes on its Economic Strengths

by Channing Hamilton March 7, 2023

The Mid-Atlantic region comprises two major markets with heavy ties to the federal government: Washington, D.C., and Baltimore. The metros are located about 40 miles apart via I-95, and their combined metropolitan statistical area (MSA) house more than 9.2 million people, which is a nearly 10 percent increase from 2010, according to the latest U.S. Census data. The region’s surging population has helped drive demand for more market-rate multifamily and affordable housing development in recent years. Also supporting demand is its ubiquitous public sector, especially in the nation’s capital. “Washington, …

March 7, 2023

A rendering of Tortoise Properties' West Palm Beach mixed-use project

Development Florida Investment Sales Market Reports Southeast

Investors Find South Florida Irresistible

by Lynn Peisner February 16, 2023

South Florida’s multifamily investors know a storm is coming. But threats of disaster, natural or economic, seem incapable of toppling confidence in this region’s potential. The optimism is born out of sustained population and job growth paired with residents’ desires — in many cases their needs — to live in apartments instead of buying homes. The U.S. Census Bureau’s 2022 population estimates, released in December 2022, indicate that Florida is now the nation’s fastest-growing state for the first time since 1957. The state’s population increased by 1.9 percent to 22.2 …

February 16, 2023

Market Reports Texas

Clean Energy Fuels Employment, Multifamily Growth in Houston

by Kari Lloyd February 9, 2023

Long known as a key center for oil and gas companies and dubbed “The Energy Capital of the World,” Houston today is positioning itself as the proving ground for alternative energies. Jobs, and therefore apartment demand, are following close behind, keeping investors busy. Per Yardi Matrix, Houston is one of only a few metros in which employment rates have returned to pre-pandemic levels. The multifamily sector, alongside many others, is reaping the benefits of such a bounce. Employment expanded by 150,400 jobs, about 5.2 percent, from March 2021 to July …

February 9, 2023

Facade of ARIUM Charlotte apartment community

Market Reports North Carolina South Carolina Southeast

What’s Driving the Development Wave in the Carolinas?

by Lynn Peisner February 2, 2023

North and South Carolina may fly under the radar when it comes to ranking the nation’s top multifamily markets. But a closer look at the region reveals metrics that rival some of the busiest cities in the country. “One of the common themes across metros in these two states is just how differently both investors and developers view the region versus how they viewed it 10 years ago — and certainly versus 20 years ago,” says Carl Whitaker, director of research for Richardson, Texas-based RealPage, which provides data, analytics and …

February 2, 2023

Edmund Place, a five-story, dark gray apartment building.

Market Reports Michigan Midwest

Detroit’s Multifamily Market is Firing on All Cylinders

by Channing Hamilton February 2, 2023

Over the past decade, Detroit has undergone a period of revitalization, both culturally and economically. At the start of the early 2010s, the city’s Midtown and central business districts attracted multiple high-profile investors led by Detroit native and billionaire Dan Gilbert, the founder and chairman of Rocket Cos. (NYSE: RKT), formerly known as Quicken Loans. Gilbert’s hometown pride can’t be denied, and his investment started what is commonly referred to as the “Detroit Renaissance.” After moving the headquarters for Quicken Loans to downtown Detroit from the western suburb of Livonia …

February 2, 2023

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