This week’s multifamily roundup features insights on the multifamily market’s resiliency, development opportunities in small markets, and the top trending zip codes among Millennials. First, Reis provides a second-quarter 2018 update on the multifamily capital markets, noting apartment cap rates are still declining. Then, Mortgage Bankers Association notes that a strong economy and continued apartment demand contributed to multifamily rents rising $2 in August. Arbor’s Chatter blog compares how the housing decisions of Millennial students in university towns compare to those in other gateway markets. Next, RealPage takes a look at three small metros that present attractive opportunities for development. Finally, RENTCafé examines the 30 biggest U.S. cities that have seen the highest increases in millennial population over the last five years.


Apartment Capital Market Update, Q2 2018

Reis – September 14, 2018

“The declining trend in apartment cap rates is a familiar, yet still unexpected story, given that the Fed has raised its overnight borrowing rate by 25 basis points in each of the last three quarters and in six of the last seven quarters.”

Resilient Multifamily Market Sees Rising Occupancies, Rents

Mortgage Bankers Association – September 19, 2018

“Buoyed by a strong economy and continued healthy demand, the average U.S. apartment rent rose $2 in August to $1,412, up 3.1 percent year-over-year, reported Yardi Matrix.”

Small Apartment Buildings Play Larger Role in Off-Campus Housing in University Towns

Arbor Chatter – September 17, 2018

“Millennial students looking for off-campus accommodations in university towns rent more frequently in small apartment buildings, and at higher rates of apartment sharing.”

Though Eyes are on Big Metros, Some Small Markets Present Development Opportunities

AnalyticsRP – September 12, 2018

“Here’s a look at three small markets that RealPage analysts discussed as having attractive opportunities for development in the latest RealPage Asset Optimization webcast.”

Top Trending Millennial Zip Codes Are Big City Urban Cores

RENTCafeApts – September 12, 2018

“The expectation is that this generation that values experiences more than material possessions prefers vibrant, walkable city neighborhoods where things are happening.”