WASHINGTON, DC—The volume of new-unit delivery through 2015 may tap the brake pedal when it comes to apartment rent growth, but it appears that nothing is going to bring the vehicle to a full stop, at least not for the three or four years. In a report on the multifamily sector, Cassidy Turley predicts annual rent growth of at least 2.5% to 5% nationally, notwithstanding projected delivery of 350,000 units through next year, or double the historic norm.

For one thing, the apartment sector has already absorbed 300,000 new units, again, double the historic norm. Demand has exceeded new supply for the past three-and-a-half years, says the report, prepared by a Cassidy Turley team led by chief economist Kevin Thorpe.

Want to continue reading?
Become a Free ALM Digital Reader.

Once you are an ALM digital member, you’ll receive:

  • Unlimited access to GlobeSt and other free ALM publications
  • Access to 15 years of GlobeSt archives
  • Your choice of GlobeSt digital newsletters and over 70 others from popular sister publications
  • 1 free article* every 30 days across the ALM subscription network
  • Exclusive discounts on ALM events and publications

*May exclude premium content
Already have an account?

 

GlobeSt. Multifamily Fall 2022Event

Join the industry's top owners, investors, developers, brokers & financiers at THE MULTIFAMILY EVENT OF THE YEAR!

Get More Information
 

GlobeSt

Join GlobeSt

Don't miss crucial news and insights you need to make informed commercial real estate decisions. Join GlobeSt.com now!

  • Free unlimited access to GlobeSt.com's trusted and independent team of experts who provide commercial real estate owners, investors, developers, brokers and finance professionals with comprehensive coverage, analysis and best practices necessary to innovate and build business.
  • Exclusive discounts on ALM and GlobeSt events.
  • Access to other award-winning ALM websites including ThinkAdvisor.com and Law.com.

Already have an account? Sign In Now
Join GlobeSt

Copyright © 2022 ALM Global, LLC. All Rights Reserved.