News & Trends

This department of Rental Housing Journal is dedicating to keeping apartment owners, multifamily executives, real estate investors, landlords and other real estate professionals up to date with the latest trends in real estate, property management and more. Here you will find trends in rents, real estate sales, apartment development, the economy at large and property management and investing industry matters.

real estate market trends
Fri
17
Feb
The Editors's picture

Home Values Rise 7 Percent in 2016

Home Values Rise 7 Percent in 2016

Home Values Rise 7 Percent in 2016

The median home value in the U.S. is now $193,800, according to Zillow's December Real Estate Market Reports. Rents grew 1.5 percent annually to a $1,403 median monthly payment.

Home values rose 6.8 percent from last December, the fastest annual pace of the year. The Zillow® Home Value Indexi (ZHVI) is $193,800, just below the highest value set in April 2007, according to the December Zillow Real Estate Market Reportsii.

Home value appreciation slowed slightly in Portland, but remains the fastest in the nation, up 13.8 percent from last December. Tampa, Seattle and Dallas saw similarly high home value growth, with home values growing nearly 12 percent from a year ago.

Fri
17
Feb
The Editors's picture

Home Buyers in Expensive Markets See a Longer Wait to Break Even

Home Buyers in Expensive Markets See a Longer Wait to Break Even

It takes at least 1.5 years longer to break even on buying a home than it did a year ago

Home value appreciation is expected to slow in some of the nation's most expensive markets, and as a result, it now takes longer to break even on a home in those markets compared to renting it. Nationally, buying a home becomes a better financial decision than renting it in just under two years, according to the Q4 2016 Zillow® Breakeven Horizoni.

Tue
14
Feb
The Editors's picture

Portland, Denver Companies Win Multifamily, Commercial Wood Design Awards

Portland, Denver companies win wood design award for multifamily and commercial buildings

Portland and Denver companies have won top national awards from the Wood Products Council for multifamily and commercial wood design buildings in Portland and Denver, according to a release.

The winners of the 2017 Wood Design Awards, which celebrate excellence in wood building design across the U.S., were chosen by an independent jury in nine national categories, the winning projects exemplify attributes of wood such as beauty, strength, versatility and sustainability, according to the release.

 

The Denver Winner Multifamily Wood Design

 “This year’s winning projects are interesting in part for what they say about the state of wood building design,” WoodWorks Executive Director, Jennifer Cover, said in the release.

Mon
13
Feb
The Editors's picture

Pets A Big Consideration In Rental Housing And Home Buying

Pets a big issue for renters and homebuyers

Pets are a major consideration for both homebuyers and renters with a new survey showing 81 percent of respondents say animal-related considerations play a major role when deciding on their next housing situation.

According to the survey, 99 percent of pet owners said they consider their animal part of the family, and this becomes apparent in the sacrifices pet owners are willing to make when it comes to buying, selling and renting homes or apartments, according to a release from the National Association of Realtors (NAR).

Many also find it difficult to find rental housing for themselves and their animals.

Some of the findings:

Fri
10
Feb
The Editors's picture

Company Buys Apartment Tower In Portland For $126.7 Million

Portland apartment tower sold for $126 million Photo copyright byy Another Believer (Own work) via Wikimedia Commons

A company has closed the sale of the 21-story, 284-unit Yard Apartment Tower in Portland for $126.7 million, in what it is calling the largest apartment transaction to date in the Oregon city’s urban core, according to a release.

Institutional Property Advisors (IPA), a division of Marcus & Millichap specializing in serving institutional and major private real estate investors, said in the release “the development of this asset was completed in August 2016, sold pre-stabilization with 50 percent of the apartments leased, and is the largest multifamily sale to date in Portland’s urban core.”

Fri
10
Feb
The Editors's picture

Multifamily Rents Flex Muscles In 2017 Kick-Off

Multifamily rents start off strong in 2017

Average U.S. monthly multifamily rents rose by $5 in January, demonstrating strength to start the year after a seasonal flattening at the end of 2016, according to Yardi Matrix’s monthly survey.

Rents increased to $1,315, according to the survey of 124 markets. On a year-over-year basis, rents were up 4.6% nationwide in January, a 30-basis-point increase from December, though still 240 basis points below the recent high of 7.0% in January 2016.

“With a handful of exceptions, rent gains continue to be led by the high-population growth centers in the West and South,” Yardi Matrix said in the report.  Highlights of which metros that beat the national average in the top 30 markets.

Wed
08
Feb
The Editors's picture

More Young Unmarried Couples Buying Homes Together

Unmarried couples buying homes

Almost 15 percent of all young homebuyers are unmarried couples, up from 11 percent prior to the recession. The percentage of homebuyers who are single has been declining since 2010, according to a release.

The share of young unmarried couples buying homes together has been on the rise over the past decade, according to a new Zillow analylsis.

"Buying a home is a big part of The American Dream – equally shared by millennials and Baby Boomers alike – but it's becoming extremely difficult to make it work on a single income,"  Zillow Chief Economist Dr. Svenja Gudell, said in the release.

Tue
07
Feb
The Editors's picture

Portland Landlords Sue To Halt Ordinance Requiring Payment To Move Evicted Tenants

Landlords sue City of Portland over ordinance requiring landlords to pay moving expenses in no cause evictions

Portland landlords have sued the City of Portland to stop an ordinance that requires landlords who evict tenants without cause to pay moving expenses for the tenants, effective immediately.

The “relocation assistance” ordinance mandates that if a landlord raises the rent on a tenant by more than 10 percent or evicts a tenant without cause, the tenant can then demand the landlord reimburse them for moving costs up to $4,500, according to news reports.

Two Portland landlords, Phillip E. Owen, of Owen Properties, LLC and Michael L. Feves have sued the City of Portland in Circuit Court of Multnomah County asking for an injunction arguing the ordinance is invalid because it violates state law in several ways, including state laws against rent control.

Mon
06
Feb
The Editors's picture

How Affordable Are Rents In 20 Popular U.S. Cities?

Rents and affordability in 20 popular U.S. cities according to appfolio.com

As more people are driven to rent instead of owning, and job growth continues to impact moving behavior,  AppFolio.com looked at where people choose to live and 20 of the most popular cities in the U.S. and asked about rents, “How affordable are they really?”

AppFolio’s definition of affordability of rents focuses on this: If you spent more than 50 percent of your monthly income on rent, it is considered a burden and thus “not affordable,” according to AppFolio.com.

Sun
05
Feb
The Editors's picture

Real Estate Data Company Acquires Axiometrics For $75 Million

Real estate data firm Realpage acquires Axiometrics

A company that provides software and real estate data analytics to the real estate industry, has acquired Axiometrics, a provider of data to the apartment industry, for $75 million according to a release.

RealPage, Inc., said in the release it has agreed to acquire substantially all of the assets of Axiometric. Axiometrics will be combined with MPF Research, a division of RealPage. In addition, RealPage has entered into a long-term relationship with Real Capital Analytics (RCA), a leading authority on multifamily sales transaction data.

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