For the next few years, the affordable vacancy rate is expected to remain flat while
the multifamily vacancy rate is expected to drift upwards due to the high level of construction underway.
Call up a couple of Commercial Brokers who deal in the area and ask them what
the multifamily vacancy rate is.
The average
multifamily vacancy rate will edge up 0.1 percent, but that sector continues to see the tightest availability and biggest rent increases.
Demand should be high —
the multifamily vacancy rate in Charleston has fallen steadily in recent years to reach 5.2 percent in the first quarter, according to New York - based data firm Reis Inc..
For comparison, the national
multifamily vacancy rate currently sits at 4.3 percent.
A swath of new apartment construction coming onto the market is forecast to lead to an uptick (0.1 percent) in
the multifamily vacancy rate.
The city is expected to reach the end of the year with
a multifamily vacancy rate of 3.1 percent (a 40 basis point increase year - over-year).
Areas with the lowest
multifamily vacancy rates presently are Minneapolis, 2.5 percent; New York, 2.8 percent; and Portland, Ore., at 2.9 percent.
Areas with the lowest
multifamily vacancy rates currently are Sacramento, Calif., 2.5 percent; Orange County, Calif., 2.6 percent; Hartford, Conn., and Oakland - East Bay at 2.7 percent; and Rochester, N.Y., at 2.8 percent.
Multifamily vacancy rates have been heading down since before 2003, when they were at about 6.5 percent, and by the end of 2005 stood at just above 5 percent.
Areas with the lowest
multifamily vacancy rates currently are New Haven, Conn., at 1.9 percent; Syracuse, N.Y., 2.0 percent; Minneapolis and San Diego, at 2.1 percent each; and New York City, 2.2 percent.
Areas with the lowest
multifamily vacancy rates presently are San Jose, Calif.; Pittsburgh; and Newark, N.J, with vacancies in a range around 3 percent.
Multifamily vacancy rates are forecast to decline from 5.8 percent in the current quarter to 4.9 percent in the first quarter of 2012.
Areas with the lowest
multifamily vacancy rates currently are Minneapolis, 2.4 percent; New York City, 2.7 percent; and Portland, Ore., at 2.8 percent.
Will
multifamily vacancy rates (a) move back above 6.0 percent (unlikely; I see the odds at 10 percent); (b) stay in the 5.5 percent to 6.0 percent range (most likely, with a 70 percent probability); (c) fall below 5.5 percent (20 percent chance)?
Areas with the lowest
multifamily vacancy rates currently are New Haven, Conn., at 2.0 percent; New York City, 2.1 percent; and Minneapolis and Syracuse, N.Y., each at 2.5 percent.
Not exact matches
The apartment rental market —
multifamily housing — should see
vacancy rates drop from 5.5 percent in the current quarter to 4.6 percent in the third quarter of 2012.
Even as new apartment completions bring more supply to many markets, the
multifamily sector will still likely see a
vacancy rate decline from 6.6 percent to 6.1 percent.
Looking at commercial
vacancy rates from the third quarter of this year to the third quarter of 2012, NAR forecasts
vacancies to decline 0.3 percentage points in the office sector, 0.6 points in industrial real estate, 0.7 points in the retail sector, and 0.9 percentage points in the
multifamily rental market.
Here you'll find forecasts as well as
vacancy rates for four commercial sectors — office, warehouse, retail,
multifamily — as reported in late October 2001.
With a 40 percent
vacancy rate and shoddy maintenance, a Louisville practitioner knew it would be a challenge to sell this
multifamily building.
I know from experience what it costs to run a
multifamily property, so the expense part was easy, the second variable is rental
rates and
vacancy.
Multifamily The Twin Cities has long been a favorite market among multifamily investors because of low vacancies and strong rental r
Multifamily The Twin Cities has long been a favorite market among
multifamily investors because of low vacancies and strong rental r
multifamily investors because of low
vacancies and strong rental
rate growth.
Topics: Tucson, Industrial, Commercial real estate, Economic development, Investment property, Absorption, Market trends,
Vacancy, Lease
rates, Leasing, Office, Medical office, Apartments,
Multifamily
Due to steady economic growth and strong demand for
multifamily units, rent growth is expected to be similar to 2016 levels and
vacancy rates will increase more slowly than initially forecast.
With low
vacancy rates in the single digits, many of our investor clients whose prior focus was single family properties are now switching to small
multifamily properties.
Even the most pessimistic apartment market researchers agree that very few apartments were empty in the third quarter and that the
vacancy rate in the
multifamily rental sector will remain low in the short - term.
NAR's most recent Commercial Real Estate Market Survey revealed the
multifamily housing sector is becoming a landlord's market, with
vacancy rates below 5 percent justifying higher rents.
This compares to a
vacancy rate of 4.5 percent for
multifamily (market -
rate) properties.
The
multifamily sector will likely have little change to its
vacancy rate over the next year as apartment completions stay at 6.5 percent, NAR reports.
Historically, the MPI and MVI have performed well as leading indicators of U.S. Census figures for
multifamily starts and
vacancy rates, providing information on likely movement in the Census figures one to three quarters in advance.
The
vacancy rate for
multifamily properties in energy metros currently stands at 6.4 percent, 190 basis points higher than the 4.5 percent
rate found amongst all other metros.
And that's the case despite the fact that owners are still offering concessions in a market with a nearly 9 %
vacancy rate, reports David Baird, national director of
multifamily for Sperry Van Ness, a real estate brokerage based in Irvine, Calif..
In the
multifamily market, which already has the tightest
vacancy rates in any commercial sector, apartment rents will be rising at faster
rates in most of the country next year.
The national
vacancy rate in the
multifamily sector is set to stand at 6.5 percent.
Looking at commercial
vacancy rates from the fourth quarter of this year to the fourth quarter of 2012, NAR forecasts
vacancies to decline 0.6 percentage point in the office sector, 0.4 point in industrial real estate, 0.8 point in the retail sector and 0.7 percentage point in the
multifamily rental market.
The apartment rental market -
multifamily housing - should see
vacancy rates ease from 4.0 percent in the first quarter to 3.9 percent in the first quarter of 2014;
vacancy rates below 5 percent generally are considered a landlord's market with demand justifying higher rents.