The National Multifamily Housing Council (NMHC) says that 72% of apartment households made a full or partial rent payment by September 6th, 2021. This figure is 4.4% lower than those who paid rent through September 6, 2020. The data comes from the NMHC’s Rent Payment Tracker which uses data from 11.7 million professionally managed apartment units across the country – representing a wide variety of market-rate rental properties that can vary by size, type and average rental price. Click here to read more at the NMHC.
Author: Brad Beckett
Brad Beckett
Director of Education & Outreach, National Real Estate Investors Association
All across the nation men & women are engaged in numerous trades and occupations – and let’s not forget they all need a place to live! Recent data from the U.S. Census Bureau took a look at selected occupations with more than 1 million full-time, year-round workers by sex. Stay safe and have a Happy Friday!!! Hat tip tip to the U.S. Census Bureau.
A recent study from Harvard’s Joint Center for Housing Studies asks, “How Are Landlords Faring During the COVID-19 Pandemic?” In the report, 2,500 landlords shared information about their rental property portfolios, as well as the individual rental properties themselves. Harvard’s Joint Center for Housing Studies advances understanding of housing issues and informs policy. Through its research, education, and public outreach programs, the Center helps leaders in government, business, and the civic sectors make decisions that effectively address the needs of cities and communities. This working paper, produced as part of the Housing Crisis Research Collaborative, describes the results of a…
Porch-sitters take note; According to new research from the NAHB’s Eye on Housing, 65.3% new homes built in 2020 were equipped with a porch. While this might sound mundane, it marks only the 3rd time that porches have broken the 65% threshold. The data showed that porches tended to be located on the front versus the side or rear. However when they were on the rear they were a little larger, coming in at an average of 143 sq. ft. versus 99 sq. ft. for those in the front. Click here to read the full report at the NAHB’s Eye…
Rentable says that the median nationwide rent price for one-bedroom units in September was $1,219 (up 2.4%) with two-bedroom units coming in at $1,479 (up 2.09%). Year-to-date, Rentable says one-bedrooms are now up 8.27% and two-bedrooms have gained 6.87%. Be sure to check out their full data set of U.S. cities. “…rents are skyrocketing. There are fewer rental units available, and landlords stung by eviction restrictions are looking to recoup past lost rent. Add that to the red-hot housing market fueled by low supply and high demand and we have the recipe for continued sharp rent increases.” Click here to…
On a recent episode of the Rental Property Owner & Real Estate Investor Podcast, Brian Hamrick talked with Ken Gee the five most important steps you must follow when renovating a multifamily apartment property. Ken has over 24 years of real estate, banking, private equity transaction, and principal investing experience. He’s also been involved with transactions valued at over $2 Billion dollars. Brian reminded listeners that one of the most lucrative ways to invest in real estate is finding an under-performing, tired multifamily property and bring it back to life through better management, renovations, and capital improvements. Click here…
The Wall Street Journal (reposted on Realtor.com) says 2020’s pandemic induced an “explosion” of swimming pools across the country. They cite data showing sales of new in-ground pools rose 24% in 2020 – which they say is historic. However, they do offer up this caveat; Homeowners without any prior pool-ownership experience need to know what they are getting into considering that basic pool maintenance averages between $1,200 and 1,800 per year…and that doesn’t include repairs. Indeed…. “In past years, we were getting estimates for filling in or removing pools prior to going on the market,” said Emily McClintock, a real-estate…
Rental information site Zumper recently released their latest monthly National Rent Report showing that their median national rent for 1-bedroom apartments in August was $1,536 (up 9.2%) and the median two-bedroom rent was $1,993 (up 11%). Be sure to check out their list of the top 100 metro areas. Click here to read the full report at Zumper.
The U.S. government is reporting that total construction spending in July was at a seasonally adjusted annual rate of $1,568.8 billion, which is 0.3% above June’s revised estimate. However, July’s figure was 9% higher than one year ago. Residential construction was at a seasonally adjusted annual rate of $773 billion in June, which is 0.5% higher than June’s revised estimate. Click here to read the full report at the U.S. Census Bureau.
We have reported about this problem several times now. It’s almost criminal, in fact National REIA’s Charles Tassell even said “Let’s face it, the government is so inept they cannot give away money!” Indeed…Today’s infographic from Statista points out how the $46 BILLION in Emergency Rental Assistance has been incredibly slow to reach tenants. As of July 31, only around $5.2 billion of the $46.6 billion in program funding has been given out. Good grief…… Well, as always, stay safe and have a Happy Friday!! Hat tip to Statista
