Matrix (Occupancy)
Demographic Shifts Pick Up Speed in Orange County
Employment gains, a moderate supply of new development and a high barrier to homeownership have bolstered strong multifamily demand in Orange County, pushing up rents and keeping occupancy over 96 percent.
Oil Prices, Supply Still Influence Houston’s Market
The outlook for Houston’s multifamily sector will stay cloudy as the market continues to show signs of instability, mostly due to negative rent growth and decreasing occupancy in the upscale Lifestyle segment.
Steady Growth Cultivates Building Boom in Columbus
Rents are escalating due to steady employment gains and net in-migration, driven by activity associated with Ohio State. Average rent reached $876, well below the national figure of $1,316.
Eds and Meds Spur Growth in Pittsburgh
Despite a slowly shrinking population, the city’s multifamily market remains steady, bolstered by increased hiring in recession-resistant sectors. Through May, rents rose 0.3 percent, trailing the nation’s 1.5 percent rate, Yardi Matrix data shows.
Tech Scene Stays Hot, Rent Growth Cools in San Jose
Rent growth has been decelerating since it reached double-digit levels in 2015. As of May, the metro’s $2,675 average rent was more than double the national average of $1,316, according to Yardi Matrix.
Positive Momentum in Atlanta
A rapidly rising population is adding to the city’s congestion issues, but also fostering demand for apartments and pushing rents higher. Rents were up 2.9 percent to $1,108 as of May, and Yardi Matrix forecasts a 3.5 percent increase in 2017.
Growing Inventory Caps Rent Growth in Austin
The metro’s economy is strong and population is booming, but a heavy new supply of apartments is limiting rent growth.
Rents Moderate in the Bay Area
Just one year after double-digit increases had bumped the average to $2,480—among the highest in the country—the rate decreased by 0.5 percent year-over-year through May.
Salt Lake City Demand Outpaces Insufficient Supply
Driven by robust population growth and low unemployment, Utah’s largest city is rapidly expanding, generating healthy housing demand, according to Yardi Matrix.
Development Boom Tempers Chicago Rent Growth
The city is preparing to receive a record level of new deliveries, with more than 8,000 units expected to come online this year, Yardi Matrix data shows.