Breneman Capital’s Post

According to RealPage Analytics, there's a notable shift in apartment demand in Detroit during the fourth quarter of 2023, which traditionally experiences low demand and net move-outs. However, 2023 saw a significant change with approximately 1,100 units absorbed, marking one of the strongest performances in the Midwest. This positive absorption trend helped mitigate the annual loss in demand, which improved from the previous year. Read more: https://bit.ly/3JHoI4q #MarketRent #DetroitRealEstate #WalkableNeighborhoods #UrbanInvesting #Detroit #MidtownDetroit #WalkableCities

On Tuesday we shared our insights on key cities in the multifamily rental market, today we want to share insights on the same key cities in the single family rental market- a dynamic sector with significant growth potential. Chicago and Los Angeles are remaining resilient with desirable neighborhoods, emerging suburban markets, and strong rental demand driven by lifestyle preferences and demographic trends. As we saw in the multifamily sector, other key cities are facing oversupply and stretched affordability issues. As we continue to monitor these markets, stay tuned for further insights into the evolving landscape of single family rentals in the United States. 🏡💼 #SingleFamilyRentals #RealEstateInvesting #MarketInsights #RentalProperties

Have rental prices slowed in your area? 💸 Our team uncovered the top 5 major U.S. cities with the biggest drops in rents for 2023. These cities saw rental growth screech to a halt after years of rapid increases. 🏙️ Check out these cities: 1. Austin, TX 2. Portland, OR 3. San Francisco, CA 4. Phoenix, AZ 5. Atlanta, GA 📉 Swipe right to see the percentage decrease in rental growth for each city compared to 2022! Stay tuned for more insights dropping tomorrow. If you're looking to make informed decisions in the rental market, our team is here to help! Connect with us now → bit.ly/3lBiVEH. #2023RentalTrends #RentalTrends #MultifamilyHousing #IndustryInsights

𝐍𝐞𝐰 𝐝𝐚𝐭𝐚: 𝐒𝐞𝐚𝐭𝐭𝐥𝐞 𝐫𝐞𝐧𝐭𝐬 𝐢𝐧𝐜𝐫𝐞𝐚𝐬𝐞𝐝 𝟏.𝟏% 𝐢𝐧 𝐉𝐮𝐥𝐲 Curious about how Seattle's rental market is shaping up compared to the broader metro area? Let's dive into the latest stats! ✅ Year-over-year rent growth in Seattle now stands at +0.1%, up from -4.3% one year ago. ✅ Today the median rent in Seattle is $1,946 for a one-bedroom unit and $2,429 for a two-bedroom unit. And the citywide apartment vacancy rate stands at 6.4%, up 0.4 percentage points from this time last year. 📊 Seattle ranks #𝟏𝟐 in month-over-month rent growth among the 100 largest U.S. cities. 💸 Seattle is the #𝟏𝟔 most expensive large city in the U.S., with a median rent of $2,086, 47.5% higher than the national median. Seattle's median rent is 3.1% higher than the metro-wide median of $2,024. Bellevue leads metro area rent growth at 7.4%, while Shoreline has seen a decline of -2.5%. For more insights and city-specific data across the Seattle metro area, explore the full Apartment List report: https://lnkd.in/grQ_wJa8 #seattleapartments #washingtonrealestate #pugetsoundrealestate #pnwrealestate #seattlerealestate #pugetsoundmultifamily #seattlemultifamily #pnwmultifamily 

Detroit is the leading city. Rounding out the top 10 best cities for real estate agents were Buffalo, New York; Kansas City; Tampa; Richmond, Virginia; Columbus, Ohio; Jacksonville, Florida; Atlanta; Pittsburgh; and Hartford. While no cities in the West made the top 10, six of the 10 worst-performing cities were found in the Pacific Time Zone. Clever claimed the bottom 10 cities for real estate agents were San Francisco; Austin; San Jose; Dallas; Milwaukee; New Orleans; Las Vegas; Phoenix; Los Angeles; and Riverside, California. The survey also found real estate agents in New York City earned the highest median salary at $103,960 per year, making it the only metro with a six-figure median income. Conversely, agents in Riverside, California, earned the lowest median income at $33,510 annually.

California Rental Market Bucks National Trend with Declines in Major Cities While rental prices in the U.S. rise, California's largest cities are experiencing a different trend. According to Zumper's National Rent Report, major California cities like Oakland and Sacramento have seen rental prices drop by 8-9% compared to last year. Other cities, including Los Angeles, San Jose, San Francisco, San Diego, and Long Beach, also reported declines. What’s driving this? The report suggests a decrease in demand, with population outflows and job losses in the Bay Area and Los Angeles. Explore the full details and implications of this trend on our blog at https://lnkd.in/ev_Pfe5c #RealEstate #PropertyManagement #RentalMarket #CaliforniaRealEstate #InvestmentProperty #LandlordTips #MarketTrends #SacramentoRealEstate

🏡 Exciting News for Arizona's Workforce! 🏡 Phoenix, Surprise, Gilbert, Scottsdale, Chandler, Peoria, and Mesa have all ranked in the top 20 of WalletHub’s “Best Cities for First-Time Home Buyers (2024)” study released this month. 📈 WalletHub evaluated 300 cities based on 22 different factors, including market attractiveness, affordability, and quality of life. This comprehensive study highlights why Arizona is a prime location for first-time home buyers. #Phoenix #IndustrialDevelopment #ConstructionBoom #EconomicGrowth #CRE #realestatenews #commercialrealestate #svndca #marketupdate #phoenixarizona #multifamily #PhoenixRealEstate #BestCities2024 #AffordableLiving #RealEstateMarket #HomeBuyingTips #ArizonaLiving #InvestInAZ #AZRealEstate #PhoenixAZ #HomeOwnership 🌟 Top Arizona Cities for First-Time Buyers: Surprise: 6th Gilbert: 9th Scottsdale: 12th Chandler: 14th Peoria: 18th Mesa: 19th

Here's a quick look at the current state of rental markets across the U.S.: Overall Trend: Nationwide, median asking rents rose by 1.1% year-over-year in April to $1,648, marking the first increase in a year. Sunbelt Slump: Cities like Seattle and Austin saw some of the largest rent drops, largely due to an oversupply from a construction boom during the pandemic. Nine out of ten US metros with the steepest rent declines are in the Sun Belt (Seattle was the only exception). Regional Differences: Contrasting with declines in the Sunbelt, cities in the Midwest and Northeast saw notable rent hikes, driven by limited new constructions and rising popularity. Market Outlook: The fluctuations in rent reflect a balancing act in the rental market post-pandemic, with signs pointing towards stabilization. Is now the perfect time to invest in CRE? These dynamics suggest careful consideration is warranted. #RealEstate #RentalMarket #HousingTrends #InvestmentOpportunity #Colliers #Pittsburgh #MoreIn24 #ThriveIn25 #ClosersCoffee #ColliersCapitalMarkets https://lnkd.in/eVY_rj9Z

Many have asked me lately, and I have to say, I have optimism in Boise's Multifamily Market--and not just due to my career and state bias. The multifamily market in Boise continues to show strong indicators pointing to continued growth and opportunity. As one of the fastest-growing cities in the nation, Boise is experiencing a surge in demand for multifamily housing, driven by its attractive lifestyle, economic opportunities, and vibrant communities. Boise's population has continued to expand rapidly, with the Boise metro area reaching nearly 1 MILLION people in 2024, showing substantial increases since the early 2000's. Ada and Canyon counties have seen massive growth of new residents since 2020, underscoring the ongoing appeal of the Treasure Valley region (World Population Review). Recent developments in Boise highlight this trend. Projects such as The Arthur by Oppenheimer Companies, Inc., a luxury apartment complex in downtown Boise, and Broadstone Saratoga Apartments by Alliance Residential Company in Boise showcase the city's commitment to creating vibrant, livable communities. These developments not only add much-needed housing units but also enhance Boise's urban landscape with modern amenities and sustainable features. According to recent data from CoStar Group, investment in #Boise’s #multifamily properties is robust, fueled by a significant influx of new residents and a rising preference for rental living. The city's appealing mix of urban amenities and natural beauty makes it a top choice for Millennials and Gen Z, who are increasingly choosing to rent in dynamic areas. Boise is investing in the revitalization of key neighborhoods, making them more attractive for multifamily developments and increasing property values. As we move through the second half of the year, Boise’s multifamily sector continues to present exciting opportunities for investors and developers. Whether you’re looking to invest, develop, or learn more about the market, our market is a great area to get involved (if you can). I am here to connect and explore how we can capitalize on these opportunities together--check out creidaho.com or the CREducation podcast. #BoiseRealEstate #MultifamilyMarket #RealEstateInvesting #SustainableLiving #UrbanDevelopment #CRE #InvestmentOpportunities #CREducation

🚀 Boise's Economy & The Surging Rent Prices 🚀 As someone who keeps a keen eye on regional economic trends, the recent developments in Boise, Idaho, have caught my attention. Traditionally known for its affordability, Boise is experiencing a significant uptick in rent prices. 📈 According to Zillow, median rent has soared by 10% in the first quarter of 2024 compared to last year. Why this sudden surge? A combination of rapid economic growth and a flood of new residents and companies relocating to Boise has spiked demand far beyond the current housing supply. It's a classic economic scenario of supply and demand imbalance, leading to inevitable price increases. While higher rents can be challenging for some residents, it’s also a sign of a robust and growing economy. For real estate investors and city planners, this presents both challenges and opportunities. On one side, there's the need to address affordability; on the other, this growth can spur further economic and infrastructural development. 🏗️ 🤔 How can Boise manage this growth sustainably while ensuring it remains an affordable place to live? For all you real estate enthusiasts, urban planners, and economic analysts out there, I’d love to hear your thoughts and predictions for Boise's future. What strategies should be adopted to balance growth with affordability? #RealEstate #EconomicGrowth #Boise #UrbanPlanning #SupplyDemand 🔔 Let's brainstorm in the comments below! 👇