AppFolio & Axiometrics Growth Trends Report

U.S.
Apartment Trends
What's Happening in Your City?

A look at the current state of the top 20 apartment markets in the U.S., and what property managers, owners, and investors can expect from these cities in the future.

Jobs on the Rise = More Demand for Apartments

200,000 jobs added
unemployment
rate down
to about 5%

With the number of units being built, supply is beginning to outpace demand.

0

new apartments are entering the market in 2016.

Annual Effective Rent Growth Is Staying Strong

Axiometrics and AppFolio studied 20 markets, looking at annual effective rent growth, job growth, and new supply to predict what property managers can expect in 2016.

We found that the strongest rent growth is in the West and South regions. Hover over your city to see the average effective rent growth for the first half of 2016.

Sacramento, CA 11%
  1. 11.0% Sacramento, CA

  2. 10.2% Portland, OR

  3. 8.60% Colorado Springs, CO

  4. 6.70% Salt Lake City, UT

  5. 6.70% Atlanta, GA

  6. 6.50% Las Vegas, NV

  7. 6.40% San Diego, CA

  8. 6.00% Los Angeles, CA

  9. 5.40% Tucson, AZ

  10. 5.40% Austin, TX

  11. 4.00% San Francisco, CA

  12. 4.00% Boston, MA

  13. 2.60% Milwaukee, WI

  14. 2.40% Chicago, IL

  15. 2.20% Baltimore, MD

  16. 2.00% Minneapolis, MN

  17. 1.20% New York, NY

  18. 1.20% Philadelphia, PA

  19. 0.40% Houston, TX

Job growth directly impacts rent. In these hot markets, job growth is sitting above the national average. Hover over a city to see job growth rates for the first half of 2016.

Sacramento, CA 2.2%
  1. 4.1% San Francisco, CA

  2. 4.0% Austin, TX

  3. 3.2% Atlanta, GA

  4. 3.1% Portland, OR

  5. 3.1% Tucson, AZ

  6. 3.0% Salt Lake City, UT

  7. 2.7% San Diego, CA

  8. 2.7% Colorado Springs, CO

  9. 2.3% Las Vegas, NV

  10. 2.3% Los Angeles, CA

  11. 2.2% New York, NY

  12. 2.2% Baltimore, MD

  13. 2.2% Sacramento, CA

  14. 2.0% Philadelphia, PA

  15. 2.0% Minneapolis, MN

  16. 1.7% Boston, MA

  17. 1.5% Chicago, IL

  18. 0.6% Milwaukee, WI

  19. 0.30% Houston, TX


Forecast

What's next for your city?

Will job growth continue to climb? Will more new supply come in that might have an effect on demand? What's the end-of-year rent growth forecast for your city?

Nationally, rents will rise by 3.2% in 2016.

U.S. Apartment Trends report cover

What's the future of the apartment market in your city?

In what cities is an increase in job growth predicted? What's the forecast for rent growth by the end of 2016?

See more on what these cities can expect around job growth, new supply, and annual effective rent growth.

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