November | December 2017 41
{
S O U T H W E S T
}
{
N A T I O N A L
}
Multifamily Continues
Robust Occupancy
Long
Strange
Trip
01/Getty
Images
CCIM.COM
* As of July 2017
** Forecast for year-end 2017 and market are ranked by forecast rent hikes.
Source: Yardi Matrix
Source: CBRE Research
Reality:
Texas Suburbs
Growing the
Fastest
Market
YOY Rent
Growth*
Forecast
Rent Hike**
Occupancy
Rates
Sacramento, Calif. 8.9% 8.2% 96.8%
Inland Empire, Calif. 4.7% 6.1% 96.3%
Phoenix 3.4% 5.3% 94.9%
Los Angeles 4.1% 5.0% 96.5%
Seattle 6.0% 4.9% 96.2%
Las Vegas 3.6% 4.5% 95.5%
Tampa, Fla. 3.2% 4.5% 95.6%
Dallas 3.3% 4.3% 95.6%
Orlando, Fla. 3.8% 4.2% 96.2%
Orange County, Calif. 3.4% 4.1% 96.5%
Lifestyle Renter-by-Necessity
Jun-16
Jul-16
Aug-16
Sep-16
Oct-16
Nov-16
Dec-16
Jan-17
Feb-17
Mar-17
Apr-17
May-17
5.0%
4.5
4.0
3.5
3.0
2.5
2.0
1.5
1.0
0.5
0.0
Nationally, suburban population growth has surpassed
increases in urban cities since 2010. This population boost
includes people from all generations.
More than 80% of large U.S. metros have become
more suburban.
Overall, Texas ranks highest in population growth, but its
suburbs top the urban core of cities like Dallas, Houston,
and San Antonio, Texas.
Texas's fastest growing counties, 2010–2016:
• Fort Bend County, southwest of Houston: 27%
• Williamson County, north of Austin, Texas: 25%
• Montgomery County, north of Dallas: 20%
• Collin County, east of Dallas: 20%
t Multifamily is gaining strength in Columbus, Ohio,
by attracting more residents and building demand
for apartments in a tight labor market.
t Job and wage growth comes from the government,
energy, education, and health-service sectors.
Multifamily Growth by Asset
Class
(
Sequential 3-Month, YOY
)
From June 2016 through May 2017
{
M I D W E S T
}
Columbus Glows
Brightly in Midwest
{
N A T I O N A L
}
Source: Yardi Matrix
Source: Yardi Matrix