Apartment index released.Marcus & Millichap Real Estate Investment Brokerage. Company, the nation's largest real estate investment brokerage firm, recently released its National Apartment Index (NAI See Network Associates. ), which ranks the New York New York, state, United States New York, Middle Atlantic state of the United States. It is bordered by Vermont, Massachusetts, Connecticut, and the Atlantic Ocean (E), New Jersey and Pennsylvania (S), Lakes Erie and Ontario and the Canadian province of City-Manhattan (No. 6) and Northern New Jersey (No. 8) markets in the Top 10. The NAI is a snapshot (1) A saved copy of memory including the contents of all memory bytes, hardware registers and status indicators. It is periodically taken in order to restore the system in the event of failure. (2) A saved copy of a file before it is updated. analysis that ranks 40 apartment markets nationwide based on a series of 12-month forward-looking supply and demand indicators. The Northern New Jersey market jumped seven spots from the NAI rankings of a year ago. A very low vacancy rate (3 percent), solid rent growth and limited new construction served to boost the market's standing. NYC-Manhattan moved up one notch from last year and is a perennial top market due to the high cost of homeownership coupled with large employment and renter bases. Four of the top five cities in the rankings were located in Southern California Southern California, also colloquially known as SoCal, is the southern portion of the U.S. state of California. Centered on the cities of Los Angeles and San Diego, Southern California is home to nearly 24 million people and is the nation's second most populated region, : Riverside-San Bernardino (No. 1), Los Angeles Los Angeles (lôs ăn`jələs, lŏs, ăn`jəlēz'), city (1990 pop. 3,485,398), seat of Los Angeles co., S Calif.; inc. 1850. (No. 2), San Diego San Diego (săn dēā`gō), city (1990 pop. 1,110,549), seat of San Diego co., S Calif., on San Diego Bay; inc. 1850. San Diego includes the unincorporated communities of La Jolla and Spring Valley. Coronado is across the bay. (No. 3) and Orange County (No. 5). Boston was ranked No. 4. Top, ranked markets typically are characterized by employment 'growth, rental growth, low vacancy, falling construction levels and a shortage of affordable single family housing due to development constraints. The Denver apartment market suffered the biggest drop in the index rankings, falling to No. 38 from No. 20 a year ago. Following are some. of the most significant details regarding the NYC-Manhattan and Northern New Jersey markets: * The Manhattan apartment market will remain, healthy overall due to its position as a world business and cultural center and the high cost of homeownership. The trend of rising apartment vacancies continued in 2002, but it is expected to peak this year before stabilizing stabilizing, v to hold a limb motionless in order to ground its energy; a standard isometric resistance technique, it releases tension and lengthens muscle fibers. in 20.04. The year-end 2002 vacancy rate was approximately 4.2%, up from 2.8% in 2001. Vacancy will peak in 2003 at 5.1% as demand begins to stabilize stabilize See peg. , due to increasing job growth and limited new apartment construction Rent decreases seen in 2002 Will give way to an increase of approximately 2.3%, as rents climb to an average of $2,195 per month in 2003.. * Northern New Jersey's yearend 2002 vacancy rate of 3% was higher than the 2.1% rate registered in 2002, but still stronger than most markets nationwide. Vacancies may climb as high as 3.2% in 2003 before the market begins to tighten in 2004. Fueled by steady low vacancies, rents will climb 3% to an average monthly rate of $1,071 in 2003. Bergen County is expected to lead the way with 3.8% rental growth. For additional property market research on, New York, Northern New Jersey and other markets nationwide, visit our website at www.marcusmillichap.com. |
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