Apartment Business Update
A quarterly newsletter covering investment trends in the apartment industry.
Renters Insurance Premiums Constant
January, 2023 | Updated January, 2023
Only about half of renters have residents insurance. The 2022 Renter’s Insurance Industry Report from SafeHome.org reports 55% of residents have renters insurance and of those insured, 75% of residents are required to have coverage.The report found the average renters insurance policy was $211 per…
Single-Family Rent Growth Slows
January, 2023 | Updated January, 2023
Single-family rent has declined for seven straight months. The latest Single-Family Rent Index from CoreLogic shows year-over-year (YoY) rent growth in November 2022 at 7.5%. All four pricing tiers measured saw a decline as well.Year-over-year changes across the four tiers—lower-priced, lower-…
U.S. DOE Hosting Better Buildings Webinars, Summit
January, 2023 | Updated January, 2023
The U.S. Department of Energy (DOE) is hosting its “Better Buildings Webinar Series,” which features conversations with experts on best practices, cost-effective strategies and new ways to approach sustainability and energy performance. View the details and registration for the webinars,…
Sun Belt Markets Among Best for New Apartments
January, 2023 | Updated January, 2023
The number of new apartments opened in the past 10 years was analyzed by RentCafe based on unit size, occupancy rate and neighborhood quality. Many of the top 50 cities to find a new apartment were in the Sun Belt—Texas had 12 cities in the top 50, while Florida had seven.Boca Raton, Fla., was the…
Newmark Announces Single-Family Rental Group
January, 2023 | Updated January, 2023
Newmark is joining the single-family rental (SFR) space. The company announced its SFR group in late 2022; it will be led by Vice Chairmen Chad Lavender and Ryan Maconachy and be part of the Multifamily Capital Markets group.“With Newmark’s significant presence in the multifamily and alternative…
2022's Rental Housing Trends
January, 2023 | Updated January, 2023
While rent growth cooled during 2022, it’s still slightly above what was seen prior to the pandemic. This is one trend reviewed by Apartment List in its 2022 Rental Rewind. The analysis tracked three national trends, three regional trends and three outlooks for 2023.Rent growth, as of November 2022…
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…