The winding, twisting road to overall apartment market improvement is typically marked with hiccups and false starts. But after overcoming some bumps along the way, Atlanta appears to be back on track.
As anyone who's been to New England knows, Yankees see themselves as an independent-thinking bunch. After all, New Hampshire's state motto is "live free or die." At the same time, though, New England's multifamily markets do share a few characteristics. Infill is popular, and so are redevelopment opportunities and value-added deals. The hot spots? Connecticut's urban markets, such as Stamford and Hartford, and Boston, of course. But improving demographics and investor interest also make sleepers such as Portland, Maine, and Providence, R.I., worth watching in the year ahead.
Austin is back. After the tech bust and old-fashioned overbuilding sent apartment occupancy and rents into a tailspin from 2001 to 2003, the market now has recovered fully and ranks once more as the standout performer across the state of Texas.
Today's Inland Empire looks little like the Riverside-San Bernardino area of just a few years ago. The industrial and product distribution companies that provided the area's first wave of economic growth in the 1970s and '80s continue to thrive, but they are yielding some of their dominance to an onslaught of white-collar corporate firms and service businesses. And residents of the region's sprawling subdivisions now have new neighbors living in higher-density options that include townhomes, condominiums, and especially apartments.