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Caitlin Walter[/caption] WASHINGTON, DC—For 30 years the National Multifamily Housing Council has released an annual ranking the nation's largest apartment owners, managers, developers, builders and syndicators. This year's list, the 2019 NMHC 50 was compiled with Kingsley Associates, a real estate research and consulting firm, and featured many familiar companies. In general, industry performance last year was quite similar to that of 2017—and the newest NMHC 50 rankings reflect that, according to Caitlin Walter, vice president of Research. "For years, the increase in demand for apartments outstripped the growth in supply," she said in a prepared statement. "The recent pickup in the annual pace of apartment production has brought new supply roughly in line with demand, at least nationally." As always, the sheer scale of the survey is impressive. The number of units collectively owned by the firms on the NMHC 50 top owners list was 2,122,748, representing 9.9% of the total apartment stock in the US. Also at 3,405,227, the number of total units managed by the firms on the NMHC 50 top managers list reached an all-time high, representing 15.9% of the total apartment stock. Other interesting facts about the apartment industry that NMHC highlighted:
Caitlin Walter[/caption] WASHINGTON, DC—For 30 years the National Multifamily Housing Council has released an annual ranking the nation's largest apartment owners, managers, developers, builders and syndicators. This year's list, the 2019 NMHC 50 was compiled with Kingsley Associates, a real estate research and consulting firm, and featured many familiar companies. In general, industry performance last year was quite similar to that of 2017—and the newest NMHC 50 rankings reflect that, according to Caitlin Walter, vice president of Research. "For years, the increase in demand for apartments outstripped the growth in supply," she said in a prepared statement. "The recent pickup in the annual pace of apartment production has brought new supply roughly in line with demand, at least nationally." As always, the sheer scale of the survey is impressive. The number of units collectively owned by the firms on the NMHC 50 top owners list was 2,122,748, representing 9.9% of the total apartment stock in the US. Also at 3,405,227, the number of total units managed by the firms on the NMHC 50 top managers list reached an all-time high, representing 15.9% of the total apartment stock. Other interesting facts about the apartment industry that NMHC highlighted: - 338,300. The number of apartments completed in 2018, according to the Census Bureau—just slightly lower than last year.
- 323,290. The net absorptions of apartments in 2018, indicating strong demand for apartment homes.
- $172.6 billion. Total multifamily transaction volume for 2018, according to Real Capital Analytics, another record high.
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Erika Morphy
Erika Morphy has been writing about commercial real estate at GlobeSt.com for more than ten years, covering the capital markets, the Mid-Atlantic region and national topics. She's a nerd so favorite examples of the former include accounting standards, Basel III and what Congress is brewing.
