Source: RealPage

Wage growth has outpaced rent growth for 16 straight months. That trend will almost certainly continue through 2024– which would erase the entire rent>wage bump of 2021-22.

Source: Jay Parsons

Source: Fannie Mae

Source: RealPage

Source: Yardi Matrix and ResiClub

43 million Americans live in rented single-family homes, 16.6% of all single-family homes, making up 40% of all renters across the country (when you included multifamily).

Construction data suggests the number of single-family renters will continue to rise moving forward as buying a home remains increasingly out of reach.

Source: Apartment List

Here are 15 metro areas that will see MORE apartments completed over the next year than they added over the last year. List shows expansion rate of apartment supply (new divided by existing) over the last 12 months, then in green shows the difference between last year’s clip versus next year’s.

Source: Jay Parsons

Source: Wall Street Journal

Source: Jay Parsons

Overall expenses per multifamily units nationally rose by 7.1 percent year-over-year, according to an examination of more than 20,000 properties that use Yardi operating software.

While expense growth remains high but is starting to decelerate, insurance costs climbed in 2023.

Source: Yardi Matrix