According to Apartment List’s National Rent Report for April 2025, national median rent increased 0.6% to $1,384 in March – the second consecutive month-over-month increases. However, year-over-year growth remains negative at -0.4%. “Since the second half of 2022, rent prices have continued to ebb and flow with the seasons as they typically do, but with the overall trajectory trending modestly downward. Following a period of record-setting rent growth in 2021 and the first half of 2022, the national median rent has now fallen below its August 2022 peak by a total of 4 percent, or $58 per month. But despite…
Author: Brad Beckett
Brad Beckett
Director of Education & Outreach, National Real Estate Investors Association
According to the U.S. Department of Labor’s Bureau of Labor Statistics, total nonfarm payroll employment increased by 228k in March, 2025 with the unemployment rate coming in at 4.2% – about the same as February. In addition, the report says employment in the federal government actually declined. Click here to read the full report at the Bureau of Labor Statistics.
According to the ADP National Employment Report for March, 20245, private sector employment increased by 155k jobs and annual pay was up 4.6% year-over-year. The ADP National Employment Report is an independent and high-frequency view of the private-sector labor market based on the aggregated and anonymized payroll data of more than 25 million U.S. employees. “Despite policy uncertainty and downbeat consumers, the bottom line is this: The March topline number was a good one for the economy and employers of all sizes, if not necessarily all sectors.” Said ADP chief economist Nela Richardson. Click here to read the full report…
Rental information site Zumper recently released their latest monthly National Rent Report for March, 2025. According to their data, median rent for 1-bedroom apartments was $1524 (down 0.1%) and $1,905 (stayed flat) for two-bedrooms. Be sure to check out their list of the top 100 metro areas. “The U.S. rental market has remained remarkably resilient despite this period of macroeconomic uncertainty… This industry is more independent of wider macro trends than many people realize. The key dynamic to be aware of is that despite record levels of new supply entering the market in the past 2 years, new multifamily construction…
The U.S. government is reporting that total construction spending in February, 2025 was at a seasonally adjusted annual rate of $2,195.8 billion, up 0.7% from January’s revised number. February’s estimate is 2.9% higher than one year ago. Residential construction came in at a seasonally adjusted annual rate of $928.9 billion in February, which is 1.3% higher than January’s revised estimate. Click here to read the full report at the U.S. Census Bureau.
Yardi says the latest results for Q4 2024 reveal ongoing challenges for self storage REITs, with a 1% drop in revenue driven by lower occupancy and rates. However, many of their top 30 metros are showing signs of stabilization, with advertised rates increasing in February. While markets in the Northeast, Midwest and West show signs of stabilization, Sun Belt regions struggle with weak home sales and oversupply. The Yardi Matrix tracks a total of 3,153 self storage properties in various stages of development, including 740 under construction, 1,989 planned and 424 prospective properties. Click here to read the full report…
The Visual Capitalist says after accounting for births, deaths, and migration, the U.S. grew by roughly 8.5 million people between 2020 and 2024. Citing Census data, they point out that not all parts of the country grew the same however or even grew at all. Indeed, today’s graphic takes a look at America’s population trends 2020-2024. As always, stay safe and have a Happy Friday!!! Hat tip to the Visual Capitalist.
According to the latest Federal Housing Finance Agency’s (FHFA) House Price Index (HPI), home prices were up 4.5% from January 2024 to January 2025, after rising 0.2% in January. The FHFA HPI is the nation’s only collection of public, freely available house price indexes that measure changes in single-family home values based on data from all 50 states and over 400 American cities that extend back to the mid-1970s. Click here to read the full report at the FHFA.
We recently posted the Census Bureau’s Homeownership & Rental Vacancy numbers for Q4 2024. In that vein, Redfin says the number of renter households in America increased 0.8% year over year to 45.4 million in the fourth quarter of 2024 – the slowest growth since Q1 of 2023. In addition, they found that the number of homeowner households rose 0.8% to 86.9 million—a growth rate that’s little changed from recent quarters. To get their report, Redfin analyzed U.S. Census Bureau data going back to 1994. See the interactive map below for more data. Click here to read the full report…
On a recent episode of the AZREIA Show, Marcus Maloney & Michael Del Prete talk with mobile home expert, Adrian Smude, about the world of mobile home investments. Adrian recounts his journey from being a problematic tenant to becoming a successful investor specializing in buying and renting single-unit mobile homes in Central Florida. Adrian discusses the nuances of mobile home investments, including key differences from traditional homes, the importance of understanding market regulations, and practical tips for those interested in diving into this niche market. Click here to listen.
