MULTIFAMILY
MULTIFAMILY CONTINUES TO make gains on all fronts
As the housing market continues to high price appreciation, multifamily properties continue to see record levels of occupancy and higher lease rates.
The national average asking rent rose 14.8% on a year-over-year basis, to an all-time high of $1,642. This on top of an average 96% occupancy rate, multifamily continues to remain strong and provide lucrative returns.
MARKET CONDITIONS
The U.S. multifamily market posted a healthy performance with a 14.8% year-over-year increase in rents so far in 2022 (May).Demand for multifamily rental units was quite robust in 2021 with 673,478 units leased compared to 296,520 units in 2020.
With the increase in demand un abated, concessions for free rent and additional amenities or pre-paid utilities has tapered off. This increases overall return on investment and the need to attract tenants at a cost to the owner operator.
STRATEGIC ADVANTAGES
Multifamily is expected to remain strong throughout 2022 and beyond. New development, repositioning and value-add opportunities abound and provide consistent income.
- Increase year-over-year rent increases
- Appreciation and value-add opportunities
- Tax deferment and depreciation
EXPAND YOUR PORTFOLIO TO INCLUDE MULTIFAMILY
Multifamily is a highly desired asset class that compliments any investment portfolio with strong appreciation potential, tax deferment benefits and depreciation. Not to mention the increasing lease rates that provide attractive monthly returns.
Contact us to learn more!