Apartment Business Update

A quarterly newsletter covering investment trends in the apartment industry.

Rents See Largest Decline in 7 Years

December, 2022 | Updated December, 2022

Asking rents are down 0.4% from October to November, resulting in the largest monthly decline in the seven-year history of Zillow’s Observed Rent Index. While November is historically the slowest month recorded in the index, declines had not reached 0.1% during this time of the year pre-pandemic.…

Miami Most Competitive Rental Market

December, 2022 | Updated December, 2022

Residents are staying in place this year as the market heats up. RentCafe analyzed the most competitive markets in the U.S. based on five factors—number of days an apartment was vacant; percentage of occupied rentals; competition between prospective residents; percentage of residents who renew…

NAA Debuts Podcast

December, 2022 | Updated December, 2022

From leadership to operational strategy to federal advocacy and more, The NAA Apartmentcast features insight and trendspotting from rental housing industry leaders. The inaugural episode features inside-the-beltway wisdom from NAA SVP of Government Affairs Greg Brown, as well as a preview of the…

2023 Apartment Housing Outlook

By Paula Munger | December, 2022 | Updated January, 2023

The final jobs report of the year confirmed the strength of the labor market in the face of a cumulative 375-basis point interest rate increase. Unemployment rates remained near 50-year lows and initial claims for unemployment were at levels consistent with a tight labor market. Although jobs were…

Bend but Don’t Break Defense Weathers Economic Uncertainty: Part 3

By Michael Miller | December, 2022 | Updated December, 2022

Technologies ebb and flow—think cassette tapes to CDs to streaming services or Myspace to Facebook—with the times, which is exactly what the entire industry has done during the pandemic but not entirely as a result of the pandemic.Some tech and other items like self-guided tours were around before…

Bend but Don’t Break Defense Weathers Economic Uncertainty: Part 2

By Michael Miller | December, 2022 | Updated December, 2022

Multifamily starts declined 4% in October, according to Dodge Data & Analytics. Despite the drop, multifamily starts are ahead of single-family starts 26% to 10%, respectively, during the first 10 months of 2022 compared to the same period in 2021.Meanwhile, the National Association of Home…

Bend but Don’t Break Defense Weathers Economic Uncertainty: Part 1

By Michael Miller | December, 2022 | Updated December, 2022

The rental housing industry has gracefully adapted and evolved during the current economic climate and global atmosphere. Nearly three years ago, the world came to a halt, causing many, not just multifamily businesses and professionals, to re-imagine their lives through a different lens. This wave…

Federal Advocacy Outlook: The End of the 117th and Beginning of the 118th Congress

By Greg Brown and Nicole Upano | December, 2022 | Updated January, 2023

While Republicans, as predicted, will take over control of the House of Representatives in 2023, no one foresaw a razor-thin four-seat majority (222–213). In the Senate, Republicans were only given a roughly 50/50 chance of taking the chamber, but few expected them to not only pick up zero seats…

Apartment Absorption Hits 25-Year High

December, 2022 | Updated December, 2022

The apartment absorption rate is at a 25-year high following a solid second quarter performance.The National Association of Home Builders analyzed data from the Census Bureau’s Survey of Market Absorptions of New Multifamily Units to find the absorption rate increased 15 percentage points to 77% in…

E-Bike Battery Safety in Question

December, 2022 | Updated December, 2022

New York City is taking steps to address the recent fires involving e-bikes and lithium-ion batteries. The New York City Fire Department is requiring apartment owners to distribute a fire and emergency preparedness bulletin to staff and residents.According to The City Record, there have been 140 e-…