Florida Is The Most Competitive Market For Renters

Florida has taken the top spot as the most sought-after area for renters in 2022, according to new research from RentCafe. RentCafe looked at the 100 largest U.S. markets and analyzed data such as the number of days a rental sat vacant, the percentage of occupied apartments, and how many renters competed for apartments. South and Central Florida ranked highest, followed by mid-sized markets in the Northeast. Miami-Date County is the hottest rental market in the country, with the highest demand for apartments thanks to a huge number of apartment hunters, low inventory, and record-high lease renewal rates. Hot areas like Miami and Orlando are struggling to keep up with an influx of new renters even though they have built…

Multifamily Investment Opportunities Slipping As Property Prices, Rates Rise

Investment opportunities in multifamily housing slipped in Q1 2022, with the Freddie Mac Multifamily Apartment Investment Market Index (AIMI) falling by 4.8% from Q4 2021 and 2.4% year-over-year. AIMI analyzes multifamily rental income growth, property price growth, and mortgage rates to measure multifamily market investment conditions. A decline such as this indicates that attractive investment opportunities are becoming more difficult to find. For the second quarter in a row, increases in net operating income (NOI) were overwhelmed by property price growth and rising interest rates.  AIMI fell nationally and in 18 of the 25 individual markets analyzed by Freddie Mac. Only seven markets experienced growth. Quarter-over-quarter NOI grew 2.5% and was up in every metro. Miami saw the fastest increase…