IQ Fiber’s Post

Can you guess which U.S. cities have the highest & lowest rents for a one-bedroom apartment in 2024? 🤔 (the list is more surprising than you'd think!) Cities with the highest rents in 2024 📈 New York, NY - $4,200 Jersey City, NJ - $3,330 San Francisco, CA - $2,950 Boston, MA - $2,830 Miami, FL - $2,770 San Jose, CA - $2,570 Arlington, VA - $2,380 San Diego, CA - $2,370 Washington, DC - $2,300 Los Angeles, CA - $2,300 Cities with the lowest rents in 2024 📉 Wichita, Kansas - $693 El Paso, Texas - $825 St. Louis, Missouri - $825 Oklahoma City, Oklahoma: $850 Tulsa, Oklahoma - $895 Memphis, Tennessee - $899 Milwaukee, Wisconsin - $900 Omaha, Nebraska - $920 Albuquerque, New Mexico - $950 Buffalo, New York - $1,080 #realestate #realestateinvesting

 In 2023, small-town rental markets are intensely competitive, with Fayetteville, AR, and Providence, RI, leading the charge. Asheville NC also made the top of the list. Fayetteville, boosted by its university and startup focus, had a 97.2% occupancy rate, and apartments were quickly occupied within 18 days, despite a 2.3% increase in housing. Providence, a popular choice for relocators, faced a severe housing shortage with no new constructions, a 96.6% occupancy rate, and apartments filling up in 35 days, attracting 17 applicants each. Asheville averaged 30 days vacant, with 95.5% occupancy and averaging 12 prospective renters and a 65.5% lease renewal rate. See the attached chart. #hotapartmentmarkets #ashevilleapartments #commercialrealestate #ashevillerealestate

Staying on top of potential changes is still another way that Market Research drives opportunity and business. Below is another example, which happens to be an interesting read about possibly revising zoning to allow apartment buildings in single-family areas in Austin TX. This would open up a ton of opportunity for investors, brokers, contractors, and related services! I'm not in Austin and most of my valued connections are not either. Many people will think, "So what? This is for Austin." If you are not a marketing client of mine, please go ahead and think that. My market research clients know that, if appropriate, we will monitor the progress of what happens in Austin. If this proposal happens, knowing exactly how to get it done in other cities (while competitors do not) brings a huge advantage. I love it when I have a full proposal ready for an approved project days or weeks before anyone else figures it out! https://lnkd.in/gdpNQJQN #Austin #Texas #RoundRock #MarketResearch #marketing #apartments #proposals #MultiFamily #RealEstate #firstin

This is obviously the type of forward thinking and visioning needed to unlock more of Dallas’ potential. This path of effort could have far reaching impacts from economic development to housing; business, resident, and talent attraction and beyond. Kudos to Councilmembers Paula Caldwell Blackmon, Chad West, and TC Broadnax for the continuous work being done to evaluate a path to assess and reimagine operational strategies. #dallasforward #economicdevelopment #landdevelopment #housing #communitydevelopment

💡 Numerous Institutional Groups are Exiting the Twin Cities Multifamily Market. Why? 🏢 The bulk of groups exiting the Twin Cities primarily held assets in downtown Minneapolis and St. Paul. These urban hubs have experienced a notable downturn, initially spurred by the shift to remote work during the pandemic. This decline was further compounded by the tragic murder of George Floyd, leading to a lack of police presence and culminating in safety concerns among residents. 📉 Consequently, renters are gravitating towards suburban living. This migration has left downtown properties grappling with substantial vacancies, escalating operational costs, and the need for costly security measures. Moreover, the market has witnessed an influx of new supply, which struggles to both attract and retain residents, resulting in instances of negative rent growth. 🚮 In light of these challenges, institutional groups are compelled to exit the market, seeking to mitigate their losses and clean-up their balance sheets of underperforming assets.

🔹 Just Listed: 100-Site MH Community in DFW Metroplex CALL FOR OFFERS: MARCH 22, 2024 Berkadia Manufactured Housing is pleased to present Anna Crossing, featuring 96 Mobile Home sites and 4 apartment units totaling 100 sites in Anna, Texas. Strategically situated in the Dallas-Fort Worth MSA, this community benefits from the region’s robust economy and growing population. This community offers limited management oversight due to its stable 100% occupancy, low number of park owned homes, and public direct billed utilities. In addition to these favorable qualities, current resident owned lot rents are $516 less than surrounding competitors, illustrating room to increase revenues on day-one. Furthermore, the prospect for a 36-lot expansion may provide immediate upside to a new owner. Overall, this offering presents the opportunity to acquire a well-positioned turn-key asset with a multitude of operational efficiencies and potential for immediate upside and expansion. INVESTMENT HIGHLIGHTS: ▪ Strong Location Within Dallas-Fort Worth MSA ▪ Lack of Affordable Housing in the Immediate Area ▪ Current Resident Owned Lot Rents Are $516 Less Than Surrounding Market Competition ▪ Attractive Turn-Key Asset with Operational Efficiencies ▪ Expansion Opportunity ▪ Recent Capital Improvements Click here for more information https://lnkd.in/gB934RBk #Berkadia

Some of the top housing markets in the U.S. all have one thing in common: Landsea Homes is on the ground, building dreams and crafting homes for every buyer! Check out this article to learn more about what makes popular housing markets like Arizona, Florida and Texas so desirable—then find a high-performing residence with Landsea Homes to live in your element. https://lnkd.in/gMS8ckPQ

FOR SALE: BridgeWater Real Estate Brokerage is proud to exclusively present for sale this 3.21-acre transit-oriented development opportunity in New Carrollton, Maryland. TOD: The property address is 8181 Professional Place, which is within a quarter mile of I-95, I-495 and Rt. 50, not to mention the New Carrollton MARC, Next Gen High Speed Amtrak, Greyhound, Metrobus and both Orange Line and future Purple Line Metro stations making this the area’s second most multi-modal transit hub behind Union Station. QCT: The property is located in the New Carrollton Transit District Overlay Zone, as well as in both a Qualified Opportunity Zone and a Qualified Census Tract (QCT). The location is eligible for Maryland’s Strategic Demolition Fund. PATIENT SELLER: The seller is patient and understands the need for a developer’s closing to be contingent upon full entitlements and a comprehensive Low Income Housing Tax Credit (LIHTC) financing package. FRIENDLY ZONING: The property is zoned Regional Transit Oriented – High – Edge (RTO-H-E), which reflects the county’s desire for high-density development near transit centers, allowing up to 175 dwelling units per acre. INCOME GENERATING: The property is improved by TreeTops, a 60,264 square foot income generating office building built in 1981.  All leases provide a demolition clause with one year notice. This location is the perfect example of where the Federal, State and County Governments explicitly want to encourage the development of high-density affordable housing, allowing seniors and families at all income levels to have easy access to as many employment and entertainment centers as possible. Please see our flyer https://lnkd.in/eiZKTgh7 and contact Adam Stein at (202) 603-5587 and/or astein@bwreb.com for more information. Thank you. Alex Crosby Mohsen Teimouri #exclusivelisting #tod #affordablehousing #developmentopportunity

🚨 Attention Housing Developers! 🚨 Exciting news from San Diego Mayor Todd Gloria! He just announced a groundbreaking initiative called "Homes For Us All" was launched, providing incredible opportunities for developers focusing on affordable housing. If you're looking for your next big project, consider our prime listing at 1035 8th Ave, Downtown San Diego. Here's why this is an unmissable opportunity: 🌟 Faster Permits: The Affordable Housing Permit Now program promises permit reviews within 30 days or fewer. Get your projects off the ground quickly and efficiently. 💰 Financial Support: The Bridge to Home program offers nearly $32 million in loan funding, reducing upfront costs and making development more financially feasible. 🏠 Expanded Housing Options: New policy reforms make it easier to develop various housing types, from student housing to single-room apartments for low-income residents. 📍 Prime Location: Located in Downtown San Diego, this site is close to key amenities, business districts, and transit options, making it ideal for residential development. This initiative not only supports the development of much-needed affordable housing but also offers significant financial and logistical advantages to developers. Interested? Check out more details about 1035 8th Ave on our  listing below and see how you can leverage these new opportunities to create impactful housing solutions. #AffordableHousing #HousingDevelopment #SanDiegoRealEstate #RealEstateInvesting #CommercialRealEstate #HousingInitiatives #DowntownSanDiego #RealEstateOpportunities

Austin’s housing market is in a bit of a rough patch, to say the least. Here is an article by The Wall Street Journal with a few details, plus some observations from our data. Big picture – Austin’s demand for housing has been off the charts for years, but its #labormarket showed a pronounced slowdown last year. Austin’s annual job growth fell to 2.7% in January 2024. While that would be a great number for the overall U.S., it’s hard to spot a time Austin was that low unless it was entering or existing a recession. At the same time, #multifamily construction has ramped up to very robust levels (putting it lightly). Austin has a construction pipeline that resembles much larger metro areas. Said another way, supply and demand are both very out-of-whack compared to previous norms. When both of those factors are in a bad spot, performance deteriorates quickly. The article references rent growth of -7%. Radix data shows a slightly deeper decline for rents at -8.2% from a year ago. That’s the second largest drop of any metro area besides Huntsville, AL (-8.7%), and the next closest are Nashville at -5.3% and Atlanta at -4.9%. Those are for the week ending 3/17/24…so very fresh data. In some #austintx submarkets, like the downtown area, rents have declined more than 10% from a year ago due to an increase in concessions and a concentration of new deliveries. For comparison, we show the overall U.S. rent level down -1.5% from a year ago. The article also focuses on how overheated the single-family home market has been, especially with changes in interest rates the past couple of years.