Market Research
Multifamily Market Research/Reports
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Washington
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Seattle Multifamily Market Report
First Quarter 2017
The regional apartment market vacancy rate is
currently 3.4%, well below the 20-year average of
4.9%. Vacancy last peaked at a rate of 7.2% in Fall
2009 as the recession was fully felt. Occupancy
increased ever since, with vacancy oscillating from
3.3% to 4.0% over the past three years as consistent
demand has nearly matched the significant amounts
of new inventory. Rental rates are at historic highs
but only recently has the rate of increase moderated
in the close-in markets. Some suburban markets are
seeing increased rent growth as they started their
recovery later.
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Oregon
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Portland Multifamily Market Report
First Quarter 2017
The Portland multifamily market softened slightly during the first quarter, but employment growth in the metro area continues to fuel strong demand, and rental rates continue to climb. Nearly 9,000 residential units were under construction in metro Portland at quarter's end, giving renters a wide menu of urban and suburban options. Conversely, buyers are finding significant upward demand pressure on prices, as the supply of units for sale remains low. Ongoing population and wage growth in Portland and the surrounding area portends higher rents and decreasing vacancies in the multifamily market in the coming quarters.
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California
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San Diego Multifamily Market Report
First Quarter 2017
The San Diego apartment market remains lucrative as rents continue to increase and vacancy decreases, despite surging construction. San Diego remains a top destination for relocating workers who seek good weather and proximity to the ocean, high wages and a low unemployment rate. The city's diverse industries include biotech, manufacturing and the largest concentration of military in the world. The growing population and high cost of buying a home ensure that San Diego will remain a strong multifamily market.
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San Francisco Multifamily Market Report
Third Quarter 2015
The Bay Area apartment market continues to reach levels of unprecedented demand. While the location is a major attraction, the growing economy has been the main driving force. Venture capital funding for the U.S. has reached its highest level since 2000 at $65 billion. This has flooded the market with new jobs as nearly 60% of the VC funding has been injected into California companies, the majority of which are located in the Bay Area. As a result of the growing population and increased demand for housing, apartment rental rates continue to experience record highs.
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Arizona
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Phoenix Multifamily Market Report
Second Quarter 2017
The Phoenix apartment market remains lucrative as vacancy continues to decrease in spite of new construction driving rents to record highs. Phoenix is a top destination for expanding companies who are attracted to the low-cost operating environment, vast pool of talent, and available tax credits in addition to more than 300 days of sunshine a year. The city's diverse industries include healthcare, manufacturing & logistics, and emerging technologies. The growing population, over 1,400 new residents relocate to Phoenix per week, ensures a strong multifamily market for years to come.
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Washington
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Seattle Multifamily Market Report
First Quarter 2017The regional apartment market vacancy rate is currently 3.4%, well below the 20-year average of 4.9%. Vacancy last peaked at a rate of 7.2% in Fall 2009 as the recession was fully felt. Occupancy increased ever since, with vacancy oscillating from 3.3% to 4.0% over the past three years as consistent demand has nearly matched the significant amounts of new inventory. Rental rates are at historic highs but only recently has the rate of increase moderated in the close-in markets. Some suburban markets are seeing increased rent growth as they started their recovery later.
Oregon
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Portland Multifamily Market Report
First Quarter 2017The Portland multifamily market softened slightly during the first quarter, but employment growth in the metro area continues to fuel strong demand, and rental rates continue to climb. Nearly 9,000 residential units were under construction in metro Portland at quarter's end, giving renters a wide menu of urban and suburban options. Conversely, buyers are finding significant upward demand pressure on prices, as the supply of units for sale remains low. Ongoing population and wage growth in Portland and the surrounding area portends higher rents and decreasing vacancies in the multifamily market in the coming quarters.
California
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San Diego Multifamily Market Report
First Quarter 2017The San Diego apartment market remains lucrative as rents continue to increase and vacancy decreases, despite surging construction. San Diego remains a top destination for relocating workers who seek good weather and proximity to the ocean, high wages and a low unemployment rate. The city's diverse industries include biotech, manufacturing and the largest concentration of military in the world. The growing population and high cost of buying a home ensure that San Diego will remain a strong multifamily market.
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San Francisco Multifamily Market Report
Third Quarter 2015The Bay Area apartment market continues to reach levels of unprecedented demand. While the location is a major attraction, the growing economy has been the main driving force. Venture capital funding for the U.S. has reached its highest level since 2000 at $65 billion. This has flooded the market with new jobs as nearly 60% of the VC funding has been injected into California companies, the majority of which are located in the Bay Area. As a result of the growing population and increased demand for housing, apartment rental rates continue to experience record highs.
Arizona
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Phoenix Multifamily Market Report
Second Quarter 2017The Phoenix apartment market remains lucrative as vacancy continues to decrease in spite of new construction driving rents to record highs. Phoenix is a top destination for expanding companies who are attracted to the low-cost operating environment, vast pool of talent, and available tax credits in addition to more than 300 days of sunshine a year. The city's diverse industries include healthcare, manufacturing & logistics, and emerging technologies. The growing population, over 1,400 new residents relocate to Phoenix per week, ensures a strong multifamily market for years to come.
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