The Multi-family industry in the Southeastern United States, Orlando and Atlanta, has never been better as the occupancy rate for August reach record highs!
According to a recent article in Multi-Family Executive Magazine
The dog days of summer seem to have brought more of the same for the rental industry as occupancy hit another high, according to the latest analysis from Dallas-based research firm Axiometrics.
August tallied an effective rent growth rate of 5.1%, which was the seventh straight month that rent increases came in above 5%. That growth rate was an eight basis-point decline from July, but well above the August 2014 mark of 4.1%.
The year-to-date growth rate hit 5.7% in August, which was the highest mark since the recession. Axiometrics cautions that this number could decline in coming months since it fell in September and October of previous post-recession years.
Helping push rents was occupancy, which hit 95.4% in August. That was the highest rate since at least April 2008 and the sixth straight month the rate was 95.0% or higher.
“As apartment occupancy continues to increase, landlords don’t need to offer as many incentives to fill their vacant units,” said Stephanie McCleskey, Axiometrics’ vice president of research in a press release. “The national concessions rate the past two months has been the lowest since the Great Recession. August’s 0.5% rate was the equivalent of $5.80 per month discount.”
SWET Construction Group is a leader in the construction and renovation industry, specializing in multi-family housing, apartments, condominiums and commercial building throughout the Southeastern United States, offering cost-effective plans, fast and attractive flooring, interior design services, drywall, metal framing, paint and waterproofing.
With over 66 years of combined experience and over 42,000 completed units, you can feel confident SWET Construction Group. Our experienced team, advanced knowledge of construction, high quality products, on-site management, turn-key solutions and precise estimation, will deliver the results you’re looking for on budget and on time.
At the heart of it all, there’s no place like home. Contact SWET Construction Group for your next project.