The multifamily market continues to show positive signs for investment opportunities with this week’s highlights of industry news and information. The Mortgage Bank Association reviews the U.S. Census Bureau’s Rental Housing Finance Survey, which confirms the strength of the small multifamily market. The Urban Land Institute reports on the growing role of families in rental housing. Arbor’s Chatter blog focuses on Phoenix, an area expected to offer long-term multifamily investment potential despite the COVID-19 disruptions. Finally, the National Association of Home Builders provides data pointing to the expansion in multifamily and single-family rentals in lower density regions.
HUD/Census: Nearly Half of Rental Units Are in Small Multifamily Properties
MBA – June 5
“For these small rental properties, nearly 73 percent (14.1 million) are owned by individual investors and more than one-third (7.9 million) have a mortgage or similar debt.”
Family Renter Housing: A Response to the Changing Growth Dynamics of the Next Decade
Urban Land Institute – June 4
“Although the number of families living in the United States remained relatively constant during the past decade, this demographic is poised to experience significant growth in the 2020s and beyond as more and more millennials have children.”
Market Spotlight: Phoenix Multifamily on Solid Ground
Arbor Chatter – June 9
“The market had the highest rent growth in the nation, along with an active development pipeline and high investment activity.”
Multifamily Construction Gaining Market Share in Low Density Markets
NAHB – June 5
“Over the past year, apartment construction growth in less dense markets has outpaced expansion in larger metropolitan areas, leading to changes in apartment construction market share.”
Midwest Region Still Seeing Rent Growth in May
RealPage – June 8
“This reading was boosted by performances in Cincinnati, which posted growth of 2.8%, and Indianapolis and St. Louis, which saw increases close to 2%.”
