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Real Data tracks the multi-family apartment markets in the major metro markets
of the Southeast. We are one of the few publishers of apartment statistics based
on 100% market survey versus sample data. We track statistics on nearly 900,000
multi-family units in North Carolina, South Carolina, Florida, Virginia, Georgia
and Tennessee, which gives our subscribers the most extensive data set of comparable
apartment statistics available. The market studies are published semi-annually
on each market's vacancy, rental rates, development and absorption trends.
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| Asheville(12/2008) |
7.6% |
$778 |
75
(12) |
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| Charleston(3/2009) |
15.3% |
$754 |
73 (17)
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| Charlotte(3/2009) |
11.8% |
$725 |
73 (16)
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| Chattanooga(2/2009) |
10.0% |
$661 |
81 (5)
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| Columbia(5/2009) |
12.6% |
$728 |
80 (7)
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| Gainesville(4/2009) |
13.0% |
$977 |
76 (11)
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| Greensboro/WS
(4/2009) |
13.1% |
$634 |
74 (14)
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| Greenville/SPG
(12/2008) |
12.5% |
$636 |
78(8)
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| Jacksonville(1/2009)
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16.0% |
$774 |
72 (18)
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| Myrtle
Beach (2/2009) |
17.5% |
$749 |
67 (19)
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| Norfolk-Va.Beach
(5/2009) |
7.3% |
$869 |
83 (3)
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| Orlando
(4/2009) |
11.8% |
$830 |
75 (13)
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Raleigh/
Durham (2/2009) |
9.2% |
$764 |
80 (6)
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| Richmond
(2/2009) |
7.6% |
$815 |
86 (2)
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| Roanoke
(8/2008) |
4.5% |
$647 |
97 (1)
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| Savannah (8/2008)
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9.2% |
$790 |
81 (4)
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| Tallahassee
(10/2008) |
12.7% |
$900 |
77 (9)
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| Tampa
Bay (6/2009) |
10.0% |
$819 |
76(10)
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| Wilmington(6/2009)
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7.9% |
$723 |
73 (15)
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| Market
Rank : Real Data scores each market based on its occupancy, employment
growth, development pipeline and rent growth. A higher score is more favorable
with scores typically ranging from 80-100. In parentheses is the markets
rank based on its score among the cities tracked by Real Data. |
Updated
June 22, 2009
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Tampa Bay, FL- Occupancy rates are holding steady at 90% but new starts have pushed the number of units under construction to nearly 4,000.
Occupancy rates for communities 1-5 years in age remains strong at nearly 94%.
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Wilmington
With vacancy rates now at 12.1% and rents falling, development activity
has slowed dramaticly with no new starts in the last year.
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Greenville-Spartanburg
Unemployment continues to rise in the area and causing downward pressure
on demand for housing. The rental supply increased by 5% in the last year
pushing vacancy rates higher. The Greer submarket has been especially hard
hit by recent new construction.
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Orlando
Job losses and the overall weak US economy continue to negatively impact the rental market.
Although development activity has been reduced significantly, new supply still outpaced demand.
The long term outlook for Orlando is optimistic but we project little improvement in the coming year.
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Norfolk-Va.Beach
The area remains one of the more healhy markets in the southeast due to limits on development activity in the last few years.
Most of the current development is in the Norfolk and Chesapeake submarkets.
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