{"id":20432,"date":"2022-06-17T08:35:00","date_gmt":"2022-06-17T12:35:00","guid":{"rendered":"https:\/\/www.beverly-hanks.com\/blog\/?p=20432"},"modified":"2022-06-17T08:35:00","modified_gmt":"2022-06-17T12:35:00","slug":"multi-family-trends","status":"publish","type":"post","link":"https:\/\/www.naibeverly-hanks.com\/blog\/multi-family-trends\/","title":{"rendered":"3 Clear Trends to Watch in Multi-Family Real Estate This Year"},"content":{"rendered":"\n
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By now, everyone in the United States is aware that the cost of single-family homes has skyrocketed in recent months. But what’s getting less press coverage is the alternative still accessible to many millions of Americans: multi-family housing. Apartment buildings, condos, and other types of “missing middle” housing<\/a> are becoming more attractive to tenants and investors alike.<\/p>\n\n\n

Here are three clear trends we’re watching in multi-family real estate<\/a> in 2022:<\/p>\n\n\n

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Demand has Rebounded<\/h2>\n\n\n

After hearing in 2020 that “everyone is leaving the city” because of COVID, the multi-family sector rebounded in demand in 2021. So far, 2022 is on pace to continue the trend<\/a>, with vacancies predicted to stay stable at about 5% and concessions headed back down. These predictions are true for suburban areas, which fared relatively well during the height of the pandemic, as well as urban areas, which are expected to fully recover by the end of the year. This is also true across all classes<\/a> of multi-family units, which have seen “both a run-up in rental household formations and a ‘move up’ trend by Class B and C renters.”<\/p>\n\n\n

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Community and Wellness as Design Elements<\/h2>\n\n\n

Long-time upward trends in healthy living spaces<\/a> have been further bolstered in recent years because of the COVID pandemic. Residents continue to focus on their physical and mental health, and they’re looking for homes that promote wellness. Today’s multi-family buildings include fitness centers, swimming pools, and yoga rooms. But tomorrow’s will also include biophilic and community spaces, such as shared rooftop terraces for gatherings and container gardens. LEED, WELL, and Fit well building certification is also becoming more important to tenants. Additional multi-family design trends<\/a> include mixed-use and “co-living” buildings, coworking spaces, and customized home technology.<\/p>\n\n\n

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Regulations Divide Investors<\/h2>\n\n\n

Investors are increasingly bullish about multi-family real estate. Rents are up, vacancies are down, and multi-family offers the benefits of economies of scale. However, investors are not treating every community as equal. According to Amir Kornblum<\/a>, partner at Reiss Sheppe LLP, “Where there are more progressive policies when it comes to real estate investment \u2026 this is causing multifamily investors to look elsewhere.” This is especially true in high-demand locations, such as New York City, where state policy limits the ability to raise rent. Instead, he claims, many investors are shifting their focus from blue states to red states with fewer regulations. We have an eye on this trend to see how it develops.<\/p>\n\n\n

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Dive into Multi-family Commercial Real Estate<\/h2>\n\n\n

There are many advantages to owning multi-family properties. From ease of financing to the income they generate over time, multi-family CRE could be a great investment for you.<\/p>\n\n\n

Are you ready to learn more? Reach out to an NAI Beverly-Hanks commercial real estate agent today<\/a>.<\/p>\n","protected":false},"excerpt":{"rendered":"

By now, everyone in the United States is aware that the cost of single-family homes has skyrocketed in recent months. But what’s getting less press coverage is the alternative still accessible to many millions of Americans: multi-family housing. Apartment buildings, condos, and other types of “missing middle” housing are becoming more attractive to tenants and… Read more »<\/a><\/p>\n","protected":false},"author":6,"featured_media":20431,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"footnotes":""},"categories":[2],"tags":[4,69,90],"class_list":["post-20432","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-commercial","tag-commercial-real-estate","tag-housing-trends","tag-multi-family"],"acf":[],"featured_image":null,"_links":{"self":[{"href":"https:\/\/www.naibeverly-hanks.com\/blog\/wp-json\/wp\/v2\/posts\/20432","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/www.naibeverly-hanks.com\/blog\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.naibeverly-hanks.com\/blog\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.naibeverly-hanks.com\/blog\/wp-json\/wp\/v2\/users\/6"}],"replies":[{"embeddable":true,"href":"https:\/\/www.naibeverly-hanks.com\/blog\/wp-json\/wp\/v2\/comments?post=20432"}],"version-history":[{"count":0,"href":"https:\/\/www.naibeverly-hanks.com\/blog\/wp-json\/wp\/v2\/posts\/20432\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/www.naibeverly-hanks.com\/blog\/wp-json\/"}],"wp:attachment":[{"href":"https:\/\/www.naibeverly-hanks.com\/blog\/wp-json\/wp\/v2\/media?parent=20432"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.naibeverly-hanks.com\/blog\/wp-json\/wp\/v2\/categories?post=20432"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.naibeverly-hanks.com\/blog\/wp-json\/wp\/v2\/tags?post=20432"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}