1 / 16

2007

A Look at the Washington Metro Area Apartment Market January 26, 2011. 2007. APARTMENT VACANCY RATES SELECT METRO AREAS YEAR-END 2010. Vacancy Rate (All Apartment Classes). Note: Mid-Year 2010 data except for Washington, Baltimore, and Philadelphia which are as of Year-End 2010.

barbaraharris
Download Presentation

2007

An Image/Link below is provided (as is) to download presentation Download Policy: Content on the Website is provided to you AS IS for your information and personal use and may not be sold / licensed / shared on other websites without getting consent from its author. Content is provided to you AS IS for your information and personal use only. Download presentation by click this link. While downloading, if for some reason you are not able to download a presentation, the publisher may have deleted the file from their server. During download, if you can't get a presentation, the file might be deleted by the publisher.

E N D

Presentation Transcript

  1. A Look at the Washington Metro Area Apartment Market January 26, 2011 2007

  2. APARTMENT VACANCY RATESSELECT METRO AREAS YEAR-END 2010 Vacancy Rate (All Apartment Classes) Note: Mid-Year 2010 data except for Washington, Baltimore, and Philadelphia which are as of Year-End 2010. Source: MPF, Delta Associates; January 2011.

  3. CLASS A & B APARTMENT ANNUAL NET ABSORPTIONSELECT METRO AREAS 12 MONTHS ENDING DECEMBER 2010 12,529 Apartment Units Note: Mid-Year 2010 data except for Washington. Source: MPF, Delta Associates; January 2011.

  4. CLASS A & B APARTMENT ANNUAL NET ABSORPTIONWASHINGTON METRO AREA 2007 – 2010 Long Term Average Absorption= 5,339 Apartment Units Class A Class B 2007 2009 2008 2010 12 months ending Source: Delta Associates; January 2011.

  5. RISE IN RENTER HOUSEHOLDSWASHINGTON METRO AREA Washington Metro change = 450 Basis Point Increase % of Total Households U.S. change = 130 Basis Point Increase Source: Census Bureau, Delta Associates; January 2011.

  6. ABSORPTION PACE PER PROJECT PER MONTH WASHINGTON METRO AREA 2003 – 2010 Units per Month 28 28 17 19 30 46 37 31 Number of projects in initial lease-up Source: Delta Associates; January 2011.

  7. ANNUAL RENT GROWTH CLASS A APARTMENTSWASHINGTON METRO AREA 2005 – 2010 7.8% Long Term Average Rent Growth = 5.1% Growth in Face Rent Evaporation of Concessions Effective Rent Growth 2.0% 2005 2006 2007 2008 2009 2010* 2010* Washington Metro U.S. 1/ Source: Delta Associates; January 2011. 1/ Preliminary Est.

  8. CONCESSIONS FOR PROPERTIES IN LEASE-UP WASHINGTON METRO AREA 2003 –2010 Concession as a Percentage of Face Rent Source: Delta Associates; January 2011.

  9. 36 MONTH DEVELOPMENT PIPELINEWASHINGTON METRO AREA 2000 – 2010 Total: 23,880 Total: 36,291 Total: 16,606 Market Rate Units Planned & U/C Source: Delta Associates; January 2011.

  10. APARTMENT CONSTRUCTION STARTS WASHINGTON METRO AREA 2008 – 2010 Average Quarterly Starts Since 2000: 1,900 Apartment Units 2008 2010 2009 Source: Delta Associates; January 2011.

  11. 5.0% 4.2% 3.9% PROJECTED APARTMENT DEMAND & DELIVERIESWASHINGTON METRO AREA 36 MONTHS ENDING DECEMBER 2013 Demand = 6,000/Yr. = 18,000 Deliveries Class A Market Rate Units in Thousands Planned and may deliver by 12/2013: 13,735 units = U/C and not yet leasing: 6,474 units = District Sub. MD No. VA Delivered and leasing: 3,671 units = Estimated Stabilized Vacancy Rate at 12/2013: 4.1% Region-Wide Total = 23,880 units Source: Delta Associates; January 2011.

  12. CLASS A APARTMENT RENT GROWTH PER YEAR WASHINGTON METRO AREA 2000 – 2014 Long-Term Average = 5.1% Percent Effective Rent Growth Source: Delta Associates; January 2011.

  13. CLASS B APARTMENT RENTAL AND VACANCY RATESWASHINGTON METRO AREA 2001 – 2010 Average Effective Base Rent Stabilized Vacancy Rate Source: Delta Associates, January 2011.

  14. CLASS B APARTMENT VACANCY RATESWASHINGTON METRO AREA 2003 – 2010 Vacancy Rate Source: Delta Associates, January 2011.

  15. CLASS B APARTMENT ANNUAL RENT GROWTHWASHINGTON METRO AREA 2009 vs. 2010 Percent Effective Rent Growth Source: Delta Associates, January 2011.

  16. A Look at the Washington Metro Area Apartment Market January 26, 2011 2007

More Related