RubinBrown Apartment Stats 2021

EXECUTIVE SUMMARY

Additionally, the American Rescue Plan enacted in March 2021 provided an additional $1,400 in direct payments to individuals, $300 per month in additional unemployment benefits, $10 billion in homeowner assistance, and another $5 billion in rental assistance. When the shutdown began in March 2020, rental demand significantly dropped in urban markets but in early 2021, recovery was evident in most markets. According to FreddieMac’s 2021 Midyear Outlook , the recent job growth has improved the outlook for the multifamily industry. They expect vacancy rates for 2021 to decrease to 5.0%, rental rates to increase 2.0% and gross income to grow 2.9%. The economy is expected to continue to grow for the rest of 2021 and likely into 2022.

RubinBrown’s 2021 Apartment Stats mirror many of the trends previously discussed. Overall vacancy rates remained low but experienced increases throughout the year. Additionally, monthly rents and operating costs increased during 2020. RubinBrown invites you to utilize this study as a development and management tool to compare your financial operations to the operating results of your peers. This study also provides sound comparable data to utilize in formulating an acquisition model. Like all compilations of data, it will be most useful when carefully and properly interpreted. We sincerely thank everyone who took time to participate in RubinBrown’s survey.

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RubinBrown Apartment Stats 2021

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