MIAMI—US apartment rents climbed at a moderate pace of 2.5% in calendar 2017. That's according to real estate technology and analytics firm RealPage.
Nationally, typical monthly apartment rent is now $1,330. For its part, the Southeast reports some of the strongest markets in the nation, from Miami to Orlando to Atlanta and beyond.
Few local markets are experiencing the price spikes that were common in 2014-2015. But two of the top 10 are in the Southeast.
According to RealPage's latest research on rent growth for new residents in the fourth quarter are include Jacksonville, FL and Atlanta. Meanwhile, rent growth was less than 1% in Nashville.
In terms of occupancy leaders, Miami ranks ninth in RealPage's fourth quarter 2017 research. Otherwise, the firm reports Florida metros, which have received households leaving Puerto Rico, tended to register small occupancy increases in the fourth quarter. RealPage market analysts anticipate that 2018's apartment performance fundamentals will register at levels very similar to the 2017 results.
While multifamily continues to be a favored asset, deal velocity and rent growth has slowed. Join RealPage's head of data science, Rich Hughes, at RealShare Apartments East 2018 as he discusses the multifamily market data that could help better forecast absorption, renter demand, and more in the keynote session.
Hughes will also discuss major development areas in the Southeast, and trends that will impact your business. Finally, he will help attendees understand how amenity-based pricing through lease transaction data can improve operational investment decisions and lease performance.
Be sure to register for RealShare Apartments East 2018 for insights from Hughes and other industry experts. Click here to register.
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