November 12, 2014

Average Rental Rates (Individually Metered)

By | 2017-10-04T14:30:13+00:00 November 12th, 2014|

For 50 - 99 unit size apartment’s, the average rental rate was $700, a 2.8% over the Q3 2013.  For the 100+ unit communities, the current average rental rate is $807, a 2.9% increase of Q3 2013.  We expect the rates to continue to increase, but for the larger complexes, the [...]

November 12, 2014

New Construction Remains Very Strong

By | 2017-10-04T14:30:13+00:00 November 12th, 2014|

Seven projects were completed in Q3 totaling 1,869 units, one in Chandler, two in Tempe, two in Gilbert,  one in Scottsdale and two in Phoenix.  YTD there have been 3,821 units completed.  There were 12 new apartment projects started (2,777u) in Q3, mostly in Phoenix, Scottsdale and Tempe.  There are now [...]

November 12, 2014

Vacancy Rates Continue Decline

By | 2017-10-04T14:30:13+00:00 November 12th, 2014|

Vacancy rates for the 3rd quarter for stabilized 50+ multifamily properties decreased from 6.8% to 6.5%.  This is the 13th decrease in the past 14 quarters. Vacancy rates for the 50-99 communities decreased 0.14% - and the 100+ decreased by 0.39%.  Of the 32 metro Phoenix sub-markets surveyed, 18 reported decreased [...]

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