This week’s multifamily roundup features insights on the keys to success in multifamily, millennial renters’ income profiles, and the impact of increasing labor costs on apartment developers. First, , NREI reports on the technologies that are likely to have the greatest impact on commercial real estate, including blockchain and the Internet of Things. Then, PMI reveals the top strategies to attract new residents and retain current tenants, while achieving high revenues. Arbor’s Chatter blog compares the income of millennial renters to their older neighbors, noting that young renters living alone often have higher incomes that the market average in downtown locations. Next, Real Capital Analytics observes that while apartment price growth still outpaces other property types, the speed of this growth has slowed since earlier this year. Finally, Trepp analyzes the impact of increasing labor costs on multifamily development, which has resulted from a shortage of qualified workers to meet the current demand.

ricardo-gomez-angel-660835-unsplash (1)

Which Emerging Technologies Are Likely to Have the Greatest Impact on the Commercial Real Estate Industry?

NREI – November 16, 2018

“From blockchain to the Internet of Things, technology might make commercial real estate investment and development easier.”

 The Keys to Operational and Revenue Success in Multifamily

PMI – November 20

“Some old-school fundamentals blended with the techy new trend of mining data can hold the key to if they attract new residents and retain the ones they have while achieving the highest possible revenue.”

Millennial Renter Income Profiles Mirror Market Averages

Arbor Chatter – November 20

“Young adult apartment renters earn as much as their older neighbors, with those living alone earning significantly higher income than the market average in downtown locations.”

 US Annual Price Growth Slows to 6.4% in October

Real Capital Analytics – November 21

“Apartment price growth still outpaces all other types at 9.6% year-over-year, though this pace has been easing since earlier in the year.”

Increasing Labor Costs Squeezing Multifamily Development Pipeline

Trepp – November 16

“Although low unemployment and increasing wage growth are indicators of a healthy and growing economy, apartment developers are getting pinched as the strong demand for workers continues to outpace supply.”