Rental housing remains hot, from single family to apartments, driven by still stringent lending, increasing job numbers and failure thus far to ignite in the formation of new households.
Apartments, however, make up the largest segment amongst new construction deliveries built to rent in 2015.
MPF Research examined and analyzed expected new deliveries of multifamily housing for rent in the 100 largest metros in the U.S. for 2015.
They analyzed and ranked the top 10 metros by the percentage increase to the existing inventory and by the most new deliveries of units.
Following are the ranking and respective metrics of these two analyses.
To read the brief article in MultiFamily Executive click http://www.multifamilyexecutive.com/business-finance/top-10-new-construction-metros-in-2015_o?utm_source=newsletter&utm_content=jump&utm_medium=email&utm_campaign=MFEBU_102314&day=2014-10-23
Inclusion on these lists are not necessarily a good thing as some markets are approaching the saturation stage either overall or in some product types, price ranges and sub-markets. Washington, DC, for example, while ranking fourth in the delivery of the number of new units in 2015, is already considered the most over-built multifamily market in the country by many analysts, with expectations of rising vacancies and declining rental rates.
If, however, you are a construction worker or builder (and not owner), all of these lists are good news.
Ted