Overall, multifamily continues to excel amongst asset classes and is driven operationally by renter demand, which is fueled by a robust job market. New permitting and construction across the country are on a healthy path. It is important to note that the majority of the areas with weaker rents have been in the core Class A space. Class C apartment stock has been the most occupied in the country, which gives credence to a long runway for rent growth in that sector and opportunities for investors to add value.
2019 is met with stability and its share of resistance. 2020 is a different story as the market will take a hard look at how the coming election will impact investment decisions.
The following report reviews the top cities in California, Georgia, and Texas based on transaction volume, total dollar volume, average price per unit and square foot, and average cap rates from 2018 to 2019.