The market for single-family rentals in 2019 has continued to take significant steps forward. For exclusive insights on the SFR market, including data on cap rates, occupancy and construction activity, read our “Q3 2019 Single-Family Rental Investment Trends Report.”
As the longest expansion in U.S. history continues, real estate industry players are looking at the performance of the U.S. economy and the market’s fundamentals for clues as to the longevity of this cycle.
Annualized small multifamily lending volume reached $57.8 billion in Q3 2019. Here’s a quick look at the quarter’s small multifamily investment and finance benchmarks.
Rental inventory in Greater Los Angeles is concentrated in its urban core, Los Angeles County. Small multifamily leads this core market concentration.
Annualized small multifamily lending volume jumped to $57.8 billion in Q3 2019. Read our Q3 2019 Small Multifamily Investment Trends Report for more insights on the multifamily sector.
Small multifamily made up the dominant share of rental inventory in Greater Los Angeles, but large multifamily stock is rising in the region.
Manhattan’s rent premiums remain well above all other New York City boroughs, ranging from 20% in small properties to 30% percent in large buildings.
Higher yields will continue to exist in the skilled nursing facilities space, according to appraiser Michael Baldwin. But he explains some of the new Patient Driven Payment Model (PDPM) reimbursement system’s challenges. Baldwin gives an insider’s look at appraising senior healthcare real estate in an Arbor audio interview.
While single renters constitute close to half of the demand within small apartment units, their growth has been faster in larger buildings, where preferences by both age and gender play a significant role.
Though a clear majority of senior householders in apartments do not work, delayed retirement has become a rising trend. Since the financial crisis, this trend has created a growing demand segment for small apartment building owners.
Small properties, while historically low in attracting renters with disabilities, are becoming more sought after for their affordability.
Our research illustrates that senior rental location preferences are strongly segmented along both age subgroups and by housing costs. Metro market size also plays a large role.
While rents in prewar buildings can compete with newer stock overall, this story varies considerably across metro areas.
When it comes to apartments, general wisdom says that the newer the building, the higher the rent. This holds true until you reach the ‘prewar’ vintage, which can approach new inventory rent rates for smaller properties.