Apartment Industry Outlook

Submitted by J. Debes Marcus & Millichap recently released THE APARTMENT OUTLOOK for 2012. Here are some interesting highlights from the report: The apartment sector has fully moved into an expansion cycle as defined by the broad based recovery in vacancy rates, rising rents, improved operations for Class B and C properties, and the start of a new construction cycle Historically, seasonal factors such as inclement weather, the holidays, and low turnover rates temper apartment leasing activity in the fourth quarter of the year.  However, since 2009, fourth quarter absorption…

Rochester, NY Ranked Among Top 10 in Apartment Vacancy Rate Rankings

Best Rank Metro Vacancy Rate Worst Rank Metro Vacancy Rate 1 New Haven 2.1% 73 San Antonio 7.1% 2 New York 2.4% 74 Phoenix 7.3% 3 Minneapolis 2.5% 75 Las Vegas 7.3% 4 Portland 2.7% 76 Greensboro/Winston-Salem 7.5% 5 San Jose 2.9% 77 Atlanta 7.7% 6 Westchester 3.0% 78 New Orleans 7.7% 7 San Diego 3.1% 79 Columbia 8% 8 Cen. New Jersey 3.1% 80 Houston 8.4% 9 Rochester 3.2% 81 Jacksonville 9.1% 10 Syracuse 3.2% 82 Memphis 9.9%