This week’s multifamily roundup offers insights on apartment occupancy, rent growth and construction starts. First, RealPage notes that several metros experienced record-high occupancy rates in the second quarter, fueled by continued robust demand. Next, MBA observes that multifamily rents grew for the ninth consecutive month, resulting in 3% year-over-year growth. Arbor’s Chatter blog releases its second-quarter 2019 Small Balance Multifamily Investment Trends Report, which discusses the performance of the sector and the outlook for the rest of the year. Then, NREI examines why garden-style communities remain popular among developers in many markets. Finally, MultifamilyBiz reports that construction starts in the first half of the year were particularly strong, especially in major markets like New York City and Washington, DC.

Some Apartment Markets Hit Peak Occupancy in 2nd Quarter

RealPage – August 1

“Cincinnati’s apartment market reached an all-time high in 2nd quarter 2019. While not usually a national leader, Cincinnati ranked eighth out of the largest 50 apartment markets for occupancy in 2nd quarter.”

Apartment Rent Growth Accelerates Despite Slow Deliveries

MBA – August 2

“Nationally, rent growth has not been this strong since 2016 when pressure in the rental market spurred record numbers of multifamily permits.”

Q2 2019 Small Balance Multifamily Investment Trends Report

Arbor Chatter – August 2 

“Small balance multifamily lending volume in the first half of 2019 totaled $58.5 billion on an annualized basis, representing a 7.9% gain from 2018’s total.”

Garden-Style Apartment Projects Allow Developers to Expand in the Suburbs

NREI – July 30

“With many prime suburbs restricting high-rise construction, garden-style apartment complexes remain popular.”

Multifamily Housing Construction Starts Register Strongest Gains for the Year

MultifamilyBiz – July 29

“Through the first half of 2019, the top five metropolitan areas ranked by the dollar amount of multifamily starts were – New York NY, Washington DC, Los Angeles CA, Miami FL, and Chicago IL.”