Articles Tagged with ''Yardi''

Expect continued apartment development boom in these 5 metros

Cities saw rapid growth this year, expect similar pace in 2020
Last month, Freddie Mac predicted 2019 would be a banner year for multifamily. That trend is expected to continue in 2020, particularly in Charleston, South Carolina; Colorado Springs, Colorado; Salt Lake City, Utah; Raleigh, North Carolina; and Louisville, Kentucky; according to a recent study by Yardi Matrix.
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Multifamily developers struggle to keep up with Austin's booming job market

Rent growth expected to rise again
In March, Austin’s employment growth rate climbed to 2.5%, far above the nation’s average of 1.6%. With Apple and Amazon both announcing further job expansions within Austin, there doesn’t seem to be an end in sight with regard to job growth. In the midst of it all, rent growth rose at a 3.7% rate through April. 
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Phoenix leads nation in multifamily rent growth

As employment rates surge, so do rent prices
As of May, rents in Arizona’s capitol rose 6.8% in the past 12 months, a study by Yardi showed. That rate is almost three times the U.S. average, while Phoenix’s employment growth rate in the past year – 3.1% – was nearly double the national rate. 
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Yardi reports rent growth steadily increasing

Rents jump $2 to $1,426
Average multifamily rents increased $2 in February to $1,426, according to the latest Yardi Matrix national multifamily report. The report noted that demand for rentals isn't showing any signs of slowing down, bolstered by low unemployment and growing wage growth. 
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Apartments are getting smaller but costing more. What gives?

Average apartment size has fallen by 5% in 10 years, while prices have risen
Depending on which report you believe, rents are either slightly falling or just hit another all-time high. Regardless of whether rent is still going up nationwide, one thing is certain: Rents have gone up significantly over the last 10 years. Given that increase, one might think that renters are getting more for their money in the form of larger apartments, right? Wrong.
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Hurricane Michael threatens more than 200,000 multifamily units

Displaced families in need of a temporary home could spike short-term demand
New data from Yardi indicates that more than 200,000 multifamily units are at risk due to Hurricane Michael. Virginia Beach, Virginia, Wilmington, North Carolina, and Tallahassee, Florida, are the cities with the most multifamily units in harm’s way, according to the report. These cities hold 36,317, 33,423 and 32,277 at-risk units, respectively.
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Real estate firm FCP is ready to invest in Opportunity Zones

An early example of the deluge of capital slated for Opportunity Zones
The floodgates appear to be opening. FCP, a privately held real estate investment company, is ready to dole out capital for projects in or around Opportunity Zones. This is an early example of what could become an absolute landslide of capital pouring into the Opportunity Zones called for in the Tax Cuts and Jobs Act of 2017.
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Yardi launches new portfolio management product

Machine learning and AI functions bolster standard Yardi functions to provide data-driven recommendations
Yardi is launching a new portfolio management tool for the multifamily industry targeted at CEOs, COOs, asset managers and operational managers. The Yardi Elevate Suite adds machine learning and artificial intelligence functions to Yardi’s RENTmaximizer, Matrix and Forecast Manager.
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