We recently collected a multitude of statistics taken from the American Community Survey and picked a few major markets that peaked our interest to create a visualization on rental statistics. The following infographic relays key points on rental rates and the predictions on future growth in 3 major markets – Atlanta, Dallas, and San Francisco.
According to Bisnow, multifamily rents have hit their new peak. Although there are indicators that the market will return to more normal growth in 2016, February rents were still up 5.9% year-to-year. Potential factors for a return to normal growth could be because of less layoffs and cancelled IPOs within the tech sector, thereby affecting cities such as Portland, San Francisco, and Denver.
No reason to stress though; predictions show rent growth this year will still reach a projected 4.5% increase. Plus, we are hard at work researching updated predictions, so stay tuned for more info.