This week’s multifamily roundup offers insights on opportunity zone legislation, Cincinnati’s apartment market and strategies to retain renters. First, CityLab explains why some industry participants believe building more high-end apartments could actually be a potential solution to the affordable housing crisis. Next, Real Capital Analytics analyzes how policies relating to opportunity zones are impacting capital flows into low-income areas, with some signs indicating the program is making a difference. Arbor’s Chatter blog spotlights Cincinnati, noting that its apartment sector is booming, bolstered by record investment activity and rent growth. Then, PMI lists several strategies property managers can implement to achieve higher resident retention, including offering technologies and services. Finally, Zumper releases its June national rent report, reporting that most metros experienced flat monthly growth rates, indicating the national market is stabilizing.
How Luxury Units Turn Into Affordable Housing
CityLab – June 5
“For every 100 luxury units built in wealthier neighborhoods, as many as 48 households in moderate-income neighborhoods are able to move into housing that better suits their needs, vacating an existing unit in the process.”
US Opportunity Zone Legislation Is Moving Capital
Real Capital Analytics – June 4
“For every low-income census tract that was selected for the opportunity zone designation, another three or so were left behind.”
Market Spotlight: Cincinnati is Booming as Economic Expansion Continues
Arbor Chatter – June 6
“As the tail of this economic expansion extends further, real estate investors continue to search for yield by investing outside of primary markets. Cincinnati has been a beneficiary of that trend, and the market is booming.”
Romancing the Renter: Proven Strategies for Higher Retention
PMI – June 6
“The way to their hearts – and their rent – is to offer technologies and services that make their lives simpler while providing ancillary revenue to the property.”
Zumper National Rent Report: June 2019
Zumper – June 3
“It seems the market is stabilizing since the days of many cities experiencing consecutive, 10%+ year over year growth rates in 2018. However, since hot moving season has just begun, rents could still shoot up in the coming months.”
