Market Intel

Two Arizona markets are among the top in the nation for multifamily rent growth. Fueled by robust population gains and a moderation in single-family home building over the past decade, healthy demand for apartments has given landlords leverage to lift rents. Among all large U.S. markets (with more than 75,000 apartment units), Tucson had the strongest year-over-year rent growth in the second quarter; Phoenix came in third, following the Inland Empire. Tucson and Phoenix were

Three Valley cities cracked a ranking of the top 40 rising housing markets nationwide, according to a study by SmartAsset. The fourth-annual study analyzed historical U.S. Census data for 317 big cities on changes in population, number of housing units, median income and median home value. Cities in California took two of the top three spots in the ranking. Phoenix, Peoria and Mesa all cracked the top 15% of the study for their performance in

While much uncertainty remains around the COVID-19 pandemic and its effects on multifamily, commercial real estate professionals are confident in the industry’s ability to withstand and recover by 2021. According to Berkadia’s 2020 Mid-Year Powerhouse Poll, conducted in early July with insights from nearly 150 investment sales brokers and mortgage bankers, 55% of the Berkadia professionals agreed that the current market activity is better than expected compared with their initial thoughts on COVID-19’s impact. In

According to the National Multifamily Housing Council’s weekly Rent Payment Tracker, 79.3% of apartment households have made a full or partial rent payment by Aug. 6, based on a survey of 11.4 million professionally managed apartment units across the country. This marks a 1.9 percentage point, or 223,000-household, decrease from the share of households who paid rent through Aug. 6, 2019. Over the same time period last month, 77.4% of renters paid their rent through

It’s easy to hit your numbers when times are good. But for multifamily pros navigating the fallout of COVID-19, 2020 has been about finding ways to maximize net operating income (NOI), even when times are tough. “We’re really thinking things through more to make sure we keep our NOI up,” says Tammy Shields, chief operating officer for Atlanta-based Audubon, which manages 5,500 units across 21 properties from the Carolinas to Louisiana. “The message we’ve sent

The apartment industry appears divided right now between predictions of calamity caused by the coronavirus pandemic because of renters unable to pay and the relatively rosy rent collection numbers by top U.S. building owners. With eviction bans expiring and federal unemployment bonuses burning off, renters are still holding up their end of the bargain, at least at the higher-end buildings tracked by the National Multifamily Housing Council, an industry advocacy group. Tenants at 79.3% of