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Multifamily Expert Urges America to Cheer Up

LOS ANGELES—During a special keynote luncheon presentation at RealShare Apartments, Hessam Nadji, president and CEO of Marcus & Millichap, discusses the many “amazing statistical facts” that are supporting the industry.

By Natalie Dolce | Updated on October 26, 2016
Hessam Nadji, president and CEO of Marcus & Millichap. Hessam Nadji, president and CEO of Marcus & Millichap.

LOS ANGELES—There is good news and many amazing statistical facts—our industry has exploded. So said Hessam Nadji, president and CEO of Marcus & Millichap, during a special keynote luncheon presentation during RealShare Apartments on Thursday.

According to Nadji, the US is adding 2- to 2.5-million jobs per year. “We have a 5% unemployment rate, 1% inflation rate, and 1.7% 10-year treasury yield.” He added that 145 million people are employed in the US, which is 7 million more jobs than in 2006.

In the apartment industry, he says, “we have a national average of 3.5% vacancy rate, which is 120 basis points below 2006.” As for the average monthly rent, Nadji puts it at $1,296, which is about 33.2% above 2006.

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