NYC metro area led nation in apartment construction in 2000: a strong condo market and improving local economy made Miami the No. 2 market for apartment construction.The New York-Northern New Jersey-Long Island Metropolitan Statistical Area (MSA (Metropolitan Service Area) An urban area with at least 50,000 people plus surrounding counties. There are 306 MSAs and 428 RSAs (rural service areas) in the U.S. MSAs and RSAs are used to allocate cellular licenses. ) led all metropolitan area markets in permits issued for apartments (structures with five or more units) in 2004 with the approval of 22,754 units. Recovery is occurring in the Manhattan Manhattan, indigenous people of North America Manhattan (mănhăt`ən), indigenous people of North America of the Algonquian-Wakashan linguistic stock (see Native American languages). rental RENTAL. A roll or list of the rents of an estate containing the description of the lands let, the names of the tenants, and other particulars connected with such estate. This is the same as rent roll, from which it is said to be corrupted. and condo/co-op markets, and the rental markets have strengthened in the Northern New Jersey and Nassau-Suffolk areas. A stronger rental market in the Greater 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 area is due to expanding economic activity. Nearly 108,000 jobs were added in the MSA over the year-period ending in December December: see month. . North New Jersey garnered more than half of the employment gains, but the area that met the former geographic geographic /geo·graph·ic/ (je?o-graf´ik) in pathology, of or referring to a pattern that is well demarcated, resembling outlines on a map. geographic pertaining to geography. definition of the New York PMSA PMSA abbr. Primary Metropolitan Statistical Area also showed signs of revival revival n. 1) requesting a court to reinstate the force of an old judgment. 2) reinstating a contract or debt by a new agreement after the right to demand performance or collect has expired under the statute of limitations (the time to sue). with more than 40,000 jobs added by its employers. (The area was redefined this past year.) The rental apartment vacancy VACANCY. A place which is empty. The term is principally applied to cases where an office is not filled. 2. By the constitution of the United States, the president has the power to fill up vacancies that may happen during the recess of the senate. rate in Northern New Jersey is approximately ap·prox·i·mate adj. 1. Almost exact or correct: the approximate time of the accident. 2. 4 percent; in Manhattan, it is below 3 percent. The large volume of product that will come on the market this year will soften the upper end of the rental market to some modest extent. It should again be noted that the redefinition Noun 1. redefinition - the act of giving a new definition; "words like `conservative' require periodic redefinition"; "she provided a redefinition of his duties" definition - a concise explanation of the meaning of a word or phrase or symbol of metropolitan areas was a factor in the New York-Northern New Jersey-Long Island metro area This article is about the music production team. For the article about population centers, see metropolitan area. Metro Area are a Brooklyn-based dance music production team composed of Morgan Geist and Darshan Jesrani. leading all markets in apartment permits. The U.S. Department of Commerce converted its residential building permit reporting, starting with this year, for metropolitan areas to the Office of Management and Budget The Office of Management and Budget (OMB), formerly the Bureau of the Budget, is an agency of the federal government that evaluates, formulates, and coordinates management procedures and program objectives within and among departments and agencies of the Executive Branch. (OMB OMB abbr. Office of Management and Budget Noun 1. OMB - the executive agency that advises the President on the federal budget Office of Management and Budget ) 2003 revised definitions. MSA is the tem] now used for the 362 geographic areas that have 83 percent of the population and at least one urbanized area of 50,000 or more population, plus adjacent jurisdictions that have a significant degree of social and economic integration with the core as measured by commuting ties. A complete set of definitions of the types of metro areas as defined by OMB and their jurisdictional components can be found at www.census census, periodic official count of the number of persons and their condition and of the resources of a country. In ancient times, among the Jews and Romans, such enumeration was mainly for taxation and conscription purposes. .gov/population/www/estimates/metrodef.html. The former New York MSA now encompasses--as its name suggests--most of Northern New Jersey and Long Island. It even adds a county from Pennsylvania Pennsylvania (pĕnsəlvā`nyə), one of the Middle Atlantic states of the United States. It is bordered by New Jersey, across the Delaware River (E), Delaware (SE), Maryland (S), West Virginia (SW), Ohio (W), and Lake Erie and New York . Historical permit data is not provided but will be in the future when adjustments are made to reflect the new metro area definitions. The employment data still reflects the former metro definitions since the Labor Department The Department of Labor (DOL) administers federal labor laws for the Executive Branch of the federal government. Its mission is "to foster, promote, and develop the welfare of the wage earners of the United States, to improve their working has not converted its database. Employment data for MSAs that contain former PMSAs were combined. Miami-Fort Lauderdale-West Palm Beach ranked second among MSA's in apartment permits in 2004. Permits were issued for 20,875 units. A driver in demand is the strong condominium condominium In modern property law, individual ownership of one dwelling unit within a multidwelling building. Unit owners have undivided ownership interest in the land and those portions of the building shared in common. market and improving local economy. Condos represented an overwhelming majority of the apartment permits last year. Economic activity is highlighted by the 35,800 jobs added by employers over the year-period ending in December. Rental apartment vacancy rates in the MSA are about 4 percent to 5 percent based on the range reported by several market research firms that track that market. Some cooling of the overheated o·ver·heat v. o·ver·heat·ed, o·ver·heat·ing, o·ver·heats v.tr. 1. To heat too much. 2. To cause to become excited, agitated, or overstimulated. v.intr. condo market is expected this year. Los Angeles-Long Beach-Santa Ana was the third most active apartment construction metro area in 2004, with permits issued for 18,369 units. This was up substantially from 2003. Employment gains and a relatively tight rental apartment market are two factors that supported the increase in permits. The area's economic rebound rebound (rē´bownd), n/v 1. a recovery from illness. n 2. an outbreak of fresh reflex activity after withdrawal of a stimulus rebound adjective led to employers adding 41,400 jobs over the year-period ending in December 2004. The number of jobs added is modest in percentage terms (0.9 percent). Rental apartment vacancy rates were approximately 4 percent in both Los Angles County and Orange County. Absorption absorption [Lat.,=sucking from], taking of molecules of one substance directly into another substance. It is contrasted with adsorption, in which the molecules adhere only to the surface of the second substance. of the new rental units should be strong as a result of the severe affordability problems occurring due to the large jump in home prices. Atlanta Atlanta (ətlăn`tə, ăt–), city (1990 pop. 394,017), state capital and seat of Fulton co., NW Ga., on the Chattahoochee R. and Peachtree Creek, near the Appalachian foothills; inc. 1847. placed fourth in apartment permits last year at 16,179 issued. This is large considering that its rental apartment vacancy rate was about 11 percent at the beginning of 2004. The vacancy rate declined moderately to about 9 percent at the end of last year. Atlanta experienced moderate economic growth, which led its employers to add a modest 25,200 jobs (1.2 percent). Houston Houston, city (1990 pop. 1,630,553), seat of Harris co., SE Tex., a deepwater port on the Houston Ship Channel; inc. 1837. Economy The fourth largest city in the nation and the largest in the entire South and Southwest, Houston is a port of entry; is the only market among the top five construction markets that experienced a decline in apartment permits last year. The 10,427 permits issued in 2004 marked a decrease of more than 40 percent compared to 2003. A double-digit dou·ble-dig·it adj. Being between 10 and 99 percent: double-digit inflation. rental apartment vacancy rate that stood at 13 percent at the end of last year certainly helped cool construction. A positive was stronger employment with 34,900 jobs (1.7 percent) being added to the local economy. The remainder of the top 10 apartment construction markets were: Washington Washington, town, England Washington, town (1991 pop. 48,856), Sunderland metropolitan district, NE England. Washington was designated one of the new towns in 1964 to alleviate overpopulation in the Tyneside-Wearside area. , DC-MD-VA-WV, 9,785 units; Chicago-Naperville-Joliet, IL-IN-WI, 8,758 units; Dallas-Fort Worth, TX, 7,686 units; Riverside-San Bernardino-Ontario, 7,235 units; and San Francisco-Oakland, CA, 6,873. Apartment permit data for the top 50 apartment construction markets during the first half of 2004 is provided in the above chart.
Top 50 Largest Apartment Construction Markets In 2004
Metro Area Apartments
5+ units Rank
New York--Northern New
Jersey--Long Island NY-NJ-PA 22754 1
Miami--Fort
Lauderdale--Miami Beach FL 20011 2
Los Angeles--Long
Beach--Santa Ana CA 18369 3
Atlanta--Sandy
Springs--Marietta GA 16179 4
Houston--Baytown--Sugar Land TX 10427 5
Washington--Arlington--
Alexandria DC-VA-MD-WV 9785 6
Chicago--Naperville--Joliet IL-IN-WI 8758 7
Dallas--Fort Worth--Arlington TX 7686 8
Riverside--San Bernardino--Ontario CA 7235 9
San Francisco--Oakland--Fremont CA 6873 10
Minneapolis--St. Paul--
Bloomington MN-WI 6284 11
Seattle--Tacoma--Bellevue WA 6231 12
Orland FL 6210 13
Phoenix--Mesa--Scottsdale AZ 5831 14
Tampa--St. Petersburg--Clearwater FL 5426 15
Boston--Cambridge--Quincy MA-NH 5410 16
San Diego--Carlsbad--San Marcos CA 5335 17
Philadelphia--Camden--
Wilmington PA-NJ-DE-MD 5143 18
Jacksonville FL 4481 19
San Antonio TX 4233 20
Denver--Aurora CO 4199 21
Cape Coral--Fort Myers FL 4094 22
Portland--Vancouver--
Beaverton OR--WA 3979 23
Detroit--Warren--Livonia MI 3841 24
Charlotte--Gastonia--Concord NC-SC 3499 25
Sacramento--Arden--
Arcade--Roseville CA 3170 26
Austin--Round Rock TX 3098 27
Las Vegas--Paradise NV 2969 28
Sarasota--Bradenton--Venice FL 2854 29
Nashville--Davidson--
Murfreesboro TN 2806 30
Myrtle Beach--Conway--North
Myrtle Beach SC 2683 31
Baltimore--Towson MD 2672 32
San Jose--Sunnyvale--Santa Clara CA 2497 33
Palm Bay--Melbourne--Titusville FL 2343 34
Indianapolis IN 2332 35
Virginia Beach--Norfolk--
Newport News VA-NC 2316 36
Fayetteville--Springdale--
Rogers AR-MO 2291 37
Panama City--Lynn Haven FL 2270 38
Raleigh--Cary NC 2198 39
Naples Marco Island FL 2001 40
Lubbock TX 1938 41
Honolulu HI 1928 42
Little Rock--North Little Rock AR 1822 43
Cincinnati--Middletown OH-KY-IN 1741 44
Deltona--Daytona
Beach--Ormond Beach FL 1651 45
Milwaukee--Waukesha--West Allis WI 1648 46
Columbus OH 1641 47
St. Louis MO-IL 1588 48
Madison WI 1452 49
Oklahoma City OK 1384 50
Metro Area Total Multi's
Units Rank
New York--Northern New
Jersey--Long Island NY-NJ-PA 37317 1
Miami--Fort
Lauderdale--Miami Beach FL 20875 2
Los Angeles--Long
Beach--Santa Ana CA 19785 3
Atlanta--Sandy
Springs--Marietta GA 16730 4
Houston--Baytown--Sugar Land TX 10758 6
Washington--Arlington--
Alexandria DC-VA-MD-WV 9987 7
Chicago--Naperville--Joliet IL-IN-WI 11776 5
Dallas--Fort Worth--Arlington TX 8303 9
Riverside--San Bernardino--Ontario CA 8323 8
San Francisco--Oakland--Fremont CA 7337 11
Minneapolis--St. Paul--
Bloomington MN-WI 7257 13
Seattle--Tacoma--Bellevue WA 7827 10
Orland FL 6585 15
Phoenix--Mesa--Scottsdale AZ 7333 12
Tampa--St. Petersburg--Clearwater FL 6481 17
Boston--Cambridge--Quincy MA-NH 6616 14
San Diego--Carlsbad--San Marcos CA 6582 16
Philadelphia--Camden--
Wilmington PA-NJ-DE-MD 5684 18
Jacksonville FL 4645 22
San Antonio TX 4635 23
Denver--Aurora CO 4781 20
Cape Coral--Fort Myers FL 5531 19
Portland--Vancouver--
Beaverton OR--WA 4627 24
Detroit--Warren--Livonia MI 4454 25
Charlotte--Gastonia--Concord NC-SC 3833 26
Sacramento--Arden--
Arcade--Roseville CA 3476 29
Austin--Round Rock TX 3699 27
Las Vegas--Paradise NV 4654 21
Sarasota--Bradenton--Venice FL 3507 28
Nashville--Davidson--
Murfreesboro TN 3337 30
Myrtle Beach--Conway--North
Myrtle Beach SC 2839 32
Baltimore--Towson MD 2788 34
San Jose--Sunnyvale--Santa Clara CA 2705 37
Palm Bay--Melbourne--Titusville FL 2435 40
Indianapolis IN 3070 31
Virginia Beach--Norfolk--
Newport News VA-NC 2806 33
Fayetteville--Springdale--
Rogers AR-MO 2763 35
Panama City--Lynn Haven FL 2382 42
Raleigh--Cary NC 2321 44
Naples Marco Island FL 2719 36
Lubbock TX 2382 43
Honolulu HI 2044 49
Little Rock--North Little Rock AR 1906 50
Cincinnati--Middletown OH-KY-IN 2156 46
Deltona--Daytona
Beach--Ormond Beach FL 1717 51
Milwaukee--Waukesha--West Allis WI 2135 47
Columbus OH 2469 39
St. Louis MO-IL 2212 45
Madison WI 2101 48
Oklahoma City OK 1632 52
Metro Area All Units
Units Rank
New York--Northern New
Jersey--Long Island NY-NJ-PA 57222 3
Miami--Fort
Lauderdale--Miami Beach FL 45369 8
Los Angeles--Long
Beach--Santa Ana CA 36450 10
Atlanta--Sandy
Springs--Marietta GA 74457 1
Houston--Baytown--Sugar Land TX 53229 4
Washington--Arlington--
Alexandria DC-VA-MD-WV 36881 9
Chicago--Naperville--Joliet IL-IN-WI 47680 7
Dallas--Fort Worth--Arlington TX 53010 5
Riverside--San Bernardino--Ontario CA 51392 6
San Francisco--Oakland--Fremont CA 15256 30
Minneapolis--St. Paul--
Bloomington MN-WI 27348 14
Seattle--Tacoma--Bellevue WA 23879 15
Orland FL 34070 12
Phoenix--Mesa--Scottsdale AZ 64229 2
Tampa--St. Petersburg--Clearwater FL 29487 13
Boston--Cambridge--Quincy MA-NH 14610 32
San Diego--Carlsbad--San Marcos CA 15590 27
Philadelphia--Camden--
Wilmington PA-NJ-DE-MD 21048 20
Jacksonville FL 19325 22
San Antonio TX 17377 24
Denver--Aurora CO 21161 19
Cape Coral--Fort Myers FL 20583 21
Portland--Vancouver--
Beaverton OR--WA 15927 26
Detroit--Warren--Livonia MI 21619 17
Charlotte--Gastonia--Concord NC-SC 21422 18
Sacramento--Arden--
Arcade--Roseville CA 22005 16
Austin--Round Rock TX 17499 23
Las Vegas--Paradise NV 36395 11
Sarasota--Bradenton--Venice FL 14496 33
Nashville--Davidson--
Murfreesboro TN 16319 25
Myrtle Beach--Conway--North
Myrtle Beach SC 7020 56
Baltimore--Towson MD 10234 39
San Jose--Sunnyvale--Santa Clara CA 5491 70
Palm Bay--Melbourne--Titusville FL 8943 46
Indianapolis IN 15459 28
Virginia Beach--Norfolk--
Newport News VA-NC 10509 37
Fayetteville--Springdale--
Rogers AR-MO 6247 66
Panama City--Lynn Haven FL 3842 95
Raleigh--Cary NC 14404 34
Naples Marco Island FL 6921 58
Lubbock TX 3588 102
Honolulu HI 3942 93
Little Rock--North Little Rock AR 5348 73
Cincinnati--Middletown OH-KY-IN 13023 36
Deltona--Daytona
Beach--Ormond Beach FL 6562 63
Milwaukee--Waukesha--West Allis WI 5959 68
Columbus OH 13201 35
St. Louis MO-IL 15313 29
Madison WI 5305 74
Oklahoma City OK 9346 43
Metro Area Jobs
2003 2004
New York--Northern New
Jersey--Long Island NY-NJ-PA 8573.3 8681.1
Miami--Fort
Lauderdale--Miami Beach FL 1752.4 1788.2
Los Angeles--Long
Beach--Santa Ana CA 5462.2 5503.6
Atlanta--Sandy
Springs--Marietta GA 2179.3 2204.5
Houston--Baytown--Sugar Land TX 2187.5 2224.2
Washington--Arlington--
Alexandria DC-VA-MD-WV 2865.1 2939.8
Chicago--Naperville--Joliet IL-IN-WI 4126.1 4137.5
Dallas--Fort Worth--Arlington TX 2699.3 2725.1
Riverside--San Bernardino--Ontario CA 1103.0 1133.9
San Francisco--Oakland--Fremont CA 1977.7 2000.3
Minneapolis--St. Paul--
Bloomington MN-WI 1744.9 1761.2
Seattle--Tacoma--Bellevue WA 1353.2 1377.9
Orland FL 945.8 968.0
Phoenix--Mesa--Scottsdale AZ 1662.7 1707.8
Tampa--St. Petersburg--Clearwater FL 1243.3 1268.5
Boston--Cambridge--Quincy MA-NH 2486.8 2491.1
San Diego--Carlsbad--San Marcos CA 1251.6 1274.6
Philadelphia--Camden--
Wilmington PA-NJ-DE-MD 3299.7 3318.0
Jacksonville FL 568.2 580.4
San Antonio TX 727.9 739.2
Denver--Aurora CO 1142.5 1160.8
Cape Coral--Fort Myers FL 192.9 200.0
Portland--Vancouver--
Beaverton OR--WA 929.8 941.8
Detroit--Warren--Livonia MI 2057.1 2032.5
Charlotte--Gastonia--Concord NC-SC 833.6 857.7
Sacramento--Arden--
Arcade--Roseville CA 758.9 760.6
Austin--Round Rock TX 656.1 662.2
Las Vegas--Paradise NV 840.9 885.5
Sarasota--Bradenton--Venice FL 280.7 281.0
Nashville--Davidson--
Murfreesboro TN 691.8 698.6
Myrtle Beach--Conway--North
Myrtle Beach SC na na
Baltimore--Towson MD 1258.0 1285.1
San Jose--Sunnyvale--Santa Clara CA 848.5 838.9
Palm Bay--Melbourne--Titusville FL na na
Indianapolis IN 893.6 892.7
Virginia Beach--Norfolk--
Newport News VA-NC 744.9 754.0
Fayetteville--Springdale--
Rogers AR-MO 175.8 180.0
Panama City--Lynn Haven FL na na
Raleigh--Cary NC 687.3 704.3
Naples Marco Island FL na na
Lubbock TX 122.2 124.8
Honolulu HI 430.3 443.3
Little Rock--North Little Rock AR 318.0 320.8
Cincinnati--Middletown OH-KY-IN 1014.6 1020.1
Deltona--Daytona
Beach--Ormond Beach FL 173.0 178.4
Milwaukee--Waukesha--West Allis WI 834.1 852.4
Columbus OH 880.8 880.9
St. Louis MO-IL 1304.1 1342.9
Madison WI 302.8 307.2
Oklahoma City OK 535.5 535.5
Metro Area Change 2003-04 Rank
Jobs % Jobs Ch.
New York--Northern New
Jersey--Long Island NY-NJ-PA 107.8 1.3% 1
Miami--Fort
Lauderdale--Miami Beach FL 35.8 2.0% 7
Los Angeles--Long
Beach--Santa Ana CA 41.4 0.8% 6
Atlanta--Sandy
Springs--Marietta GA 25.2 1.2% 15
Houston--Baytown--Sugar Land TX 34.9 1.7% 9
Washington--Arlington--
Alexandria DC-VA-MD-WV 74.7 2.6% 2
Chicago--Naperville--Joliet IL-IN-WI 11.4 0.3% 30
Dallas--Fort Worth--Arlington TX 25.8 1.0% 13
Riverside--San Bernardino--Ontario CA 30.9 2.8% 11
San Francisco--Oakland--Fremont CA 22.6 1.1% 18
Minneapolis--St. Paul--
Bloomington MN-WI 16.3 0.9% 25
Seattle--Tacoma--Bellevue WA 24.7 1.8% 16
Orland FL 22.2 2.3% 19
Phoenix--Mesa--Scottsdale AZ 45.6 2.7% 3
Tampa--St. Petersburg--Clearwater FL 25.2 2.0% 14
Boston--Cambridge--Quincy MA-NH 4.3 0.2% 58
San Diego--Carlsbad--San Marcos CA 18.5 1.5% 20
Philadelphia--Camden--
Wilmington PA-NJ-DE-MD 18.3 0.6% 21
Jacksonville FL 12.2 2.1% 28
San Antonio TX 11.3 1.6% 30
Denver--Aurora CO 18.3 1.6% 22
Cape Coral--Fort Myers FL 7.1 3.7% 44
Portland--Vancouver--
Beaverton OR--WA 12.0 1.3% 29
Detroit--Warren--Livonia MI -24.6 -1.2% 241
Charlotte--Gastonia--Concord NC-SC 24.1 2.9% 17
Sacramento--Arden--
Arcade--Roseville CA 1.7 0.2% 110
Austin--Round Rock TX 6.1 0.9% 50
Las Vegas--Paradise NV 44.6 5.3% 5
Sarasota--Bradenton--Venice FL 0.3 0.1% 45
Nashville--Davidson--
Murfreesboro TN 6.8 1.0% 46
Myrtle Beach--Conway--North
Myrtle Beach SC na na na
Baltimore--Towson MD 27.1 2.2% 12
San Jose--Sunnyvale--Santa Clara CA -9.6 -1.1% 240
Palm Bay--Melbourne--Titusville FL na na na
Indianapolis IN -0.9 -0.1% 222
Virginia Beach--Norfolk--
Newport News VA-NC 9.1 1.2% 35
Fayetteville--Springdale--
Rogers AR-MO 4.2 2.4% 59
Panama City--Lynn Haven FL na na na
Raleigh--Cary NC 17.0 2.5% 24
Naples Marco Island FL na na na
Lubbock TX 2.6 2.1% 82
Honolulu HI 13.0 3.0% 27
Little Rock--North Little Rock AR 2.8 0.9% 79
Cincinnati--Middletown OH-KY-IN 5.5 0.5% 53
Deltona--Daytona
Beach--Ormond Beach FL 5.4 3.1% 54
Milwaukee--Waukesha--West Allis WI 18.3 2.2% 23
Columbus OH 0.1 0.0% 204
St. Louis MO-IL 38.8 3.0% 7
Madison WI 4.4 1.5% 57
Oklahoma City OK 0.0 0.0% 189
Sources: U.S. Department of Commerce & Labor,
Regis J. Sheehan & Associates
Robert Robert, Henry Martyn 1837-1923. American army engineer and parliamentary authority. He designed the defenses for Washington, D.C., during the Civil War and later wrote Robert's Rules of Order (1876). Noun 1. J. Sheehan People whose surname is or was Sheehan include:
An economist is an expert in the social science of economics.[1] , can be reached at rjsmc@comcast Comcast Corporation, (NASDAQ: CMCSA) is the largest[1] cable television (CATV) company and the second largest Internet service provider in the United States. .net. |
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