Apartment Business Update
A quarterly newsletter covering investment trends in the apartment industry.
2023 Multifamily Loan Purchase Caps Announced
| Updated
The Federal Housing Finance Agency (FHFA) announced 2023 multifamily loan purchase caps for Fannie Mae and Freddie Mac. The combined total for the Enterprises is $150 billion—$75 billion each.The limit is a $3 billion decrease from the $78 billion caps in 2022, which FHFA called an “anticipated…
Renters Overtake Homeowners in 101 Zip Codes
| Updated
With the cost of owning a home rising, some across the U.S. are looking at other alternatives, which includes renting. This phenomenon was reflected in a recent study from RentCafe, which shows 101 zip codes have flipped from homeowner majority to renter majority in the last 10 years.The share of…
Property Tax Increases on Horizon for Rental Housing Providers
| Updated
Property tax increases are coming and are impacting the rental housing industry across the Sun Belt.A recent article from Bloomberg reviews several companies in the industry and what they expect to see regarding the increases. American Homes 4 Rent and Invitation Homes both said property taxes will…
Rent Growth Cools in October
| Updated
Rents across the U.S. are easing slightly, but the data is still fairly market specific. Both the Zumper National Rent Report and the Apartment List National Rent Report for the month of October saw declines in rent prices.Zumper reports median one-bedroom rent declined 0.8% compared to the…
Apartment Market Conditions Weaken in Q3
| Updated
Apartment sales and financing are among market conditions showing a slowdown in the third quarter of 2022. The latest Quarterly Survey of Apartment Market Conditions from the National Multifamily Housing Council (NMHC) reports market tightness, sales volumes, equity financing and debt financing…
Renter Voter Turnout Increasing
| Updated
Renters are closing the gap with homeowners regarding voter turnout. The midterm elections are next week, and Apartment List reviewed voting habits between the two cohorts. While the gap between homeowners and renters has been larger in midterm elections, presidential election years have also…
Former NAA Chairman Rick Graf Retiring
| Updated
Former National Apartment Association (NAA) Chairman of the Board Rick Graf is retiring. His last day as President, Multifamily, Asset Services at Cushman & Wakefield will be Dec. 31. Woody Stone was promoted to serve as President of U.S. Multifamily Asset Services, according to a release from…
Navigating the Ins and Outs of Data Privacy
| Updated
New state-level data privacy laws in California, Colorado, Connecticut, Utah and Virginia go into effect in 2023. These changes will have a direct impact on companies in the multifamily housing space. To inform members of these upcoming changes, NAA’s Legal Affairs team hosted “Navigating the Ins…
Updates on the Biden Administration’s Housing Supply Action Plan
| Updated
On Friday October 7, 2022, the Biden Administration announced its progress toward the implementation of the Housing Supply Action Plan previously announced earlier this year. The plan outlined goals aimed at closing the housing supply shortfall in five years, beginning with the creation and…
Greystar Expands into Multifamily Lending
| Updated
Greystar Real Estate Partners, LLC has announced it will expand its reach within the rental housing industry with senior mortgages, mezzanine loans and preferred equity to multifamily owners and developers in the U.S.Because of its initial venture into the credit world in 2018, “we are well-…