Prior to the onset of COVID-19, the Phoenix multifamily market stood on solid ground. The market had the highest rent growth in the nation, along with an active development pipeline and high investment activity. Although the Valley of the Sun is not immune to the economic effects of the recession that will be felt throughout the nation, the market is starting from a position of strength.
This economic report analyzes how much federal COVID-19 relief has assisted small multifamily renters and what investors should continue to watch.
Sign up for our June 25 webinar: Ivan Kaufman, Chairman and CEO of Arbor, Greg Willett, Chief Economist, RealPage, Jamie Woodwell, VP of Research and Economics, Mortgage Bankers Association and economist Sam Chandan address the top questions multifamily investors need to know.
Prior to the onset of COVID-19, the Phoenix multifamily market had the highest rent growth in the nation, along with an active development pipeline and high investment activity.
In this short audio brief, economist Sam Chandan analyzes today’s demand for SFRs, summarizing what recent data suggests about investments.
Build-to-rent financing is different in today’s COVID-19 environment. An IMN webinar looks at both the challenges and opportunities for investors.
On “The Urban Lab” podcast, Arbor’s Chairman and CEO Ivan Kaufman explains the strength of multifamily investments holding up during the COVID-19 crisis.
Less density and new construction are some of the reasons behind the growing appeal of build-to-rent, in today’s COVID-19 environment.
From in-depth reports to impactful articles, Arbor is your source for exclusive content about key trends impacting investment within commercial real estate markets, including multifamily, single-family rentals, and affordable housing.
The share of household income spent on housing costs for small properties ranges significantly across the largest U.S. cities. Overall, this share has declined slightly with the ongoing economic recovery, improving affordability in recent years.
In their unit mix, small apartment buildings are more specialized in bigger units compared to large properties, while also being more affordable. Renters can find value in small apartment properties, as examined in this update.
As we enter the later stages of the current economic cycle, a major topic of discussion among real estate players is how much longer will this trend of slow and steady growth continue. At the Mortgage Bankers Association’s CREF Market Intelligence Symposium 2018 in New York City, hosted by the New York University, Schack Institute of Real Estate, leading industry participants came together to discuss the state of the real estate market and where it’s likely to go, as well as the key factors impacting commercial real estate and the U.S. economy.
Small property unit demand from the boomer-senior age group is dominated by renters living alone, calling closer attention to property-level upgrades.
Here’s a quick look at how demographics are contributing to a surge in renting single-family homes.
Household income data underscores the importance of small apartment buildings in maintaining workforce housing options, and thereby, the economic dynamism of cities.
Here’s a quick look at the small balance multifamily finance and investment benchmarks for Q1 2018.
Apartment properties show rent increases across all metro segments; while growing steadily in the largest metros, secondary markets are now experiencing higher rent growth in the small asset space.
The ongoing inventory consolidation in the multifamily market is resulting in higher quality assets. This is illustrated in the steady annual increases in rents, especially in small apartment properties. Average Rent Levels Across Asset Type The current consolidation in the multifamily market, characterized by steady large building inventory expansion and a slight contraction in small building units, is helping retain better performing assets with higher rents. The above contraction in small building units comes in the backdrop of rising competition between large apartment buildings and single-family homes for Millennial rental demand. As shown below, based on the latest data from the American Community Survey (ACS), the average monthly gross rent (total housing expense) of small apartment property units reached around $1,040 in 20161. This is an increase from $1,000 in the previous year. In comparison, US average monthly gross rent in large building units increased from $1,200 in 2015 to $1,240 in 2016. At the other end of the market, the rent for single-family homes was slightly above that of large buildings. Duplex-quadruplex units were the least expensive rental option Read the full article…
Buoyed by the favorable economic outlook, a robust labor market and higher inflation, small balance multifamily lending in Q1 2018 was $44.5 billion, improving on Q1 2017.