Fall 2011 Sunrise Multifamily Rental Market Report Finds Rental Rates Recovering Throughout Northeast Markets
(firmenpresse) - ALBANY, NY -- (Marketwire) -- 12/30/11 -- The Fall 2011 Sunrise Multifamily Rental Market Report finds average rental rates throughout the Northeast to be at or above rental rate levels from the Fall of 2008, having mostly recovered from the economic downturn. These findings are driven by rising demand for rentals amid constrained inventory throughout the region.
New York generally has recovered from the downturn: (Report does not include NY City)
Most of NY has had slow steady growth throughout downturn
Hudson Valley and Capital Region lead NY with good growth over Fall 2010
NY Southern Tier has recovered to levels of Fall 2008
NY Western Region flat throughout downturn, down $6.06 from Fall 2010
New England results are mixed:
CT, NH, and ME have recovered to Fall 2008 levels
MA Eastern Region has seen steady growth, while Western Region is flat to Fall 2008
VT has seen steady growth throughout downturn
RI has been trending down over 4 periods, down -$74.31 in average rent from Fall 2010
The sluggish economic recovery, high unemployment, and difficulty in funding new home purchases are keeping demand for multifamily rentals rising in the surveyed markets. With the single-family home market still depressed, people are looking for the economies and flexibility of renting.
"Another factor on rental growth found in several markets was that of unsold condo developments being converted to high-end rental inventory, driving significant rental rate increases," said Jesse Holland, Sunrise Management & Consulting president. "Developers found it easier to rent than sell, and with funding difficulties and economic conditions discouraging home purchases, families found it conducive to rent at the high end."
The includes the entire Northeast except New York City. The states surveyed and reported on include Connecticut, Maine, Massachusetts, New Hampshire, New York, Rhode Island and Vermont. It details average asking rents by unit mix and by square footage, and tracks historical trends on a county, regional and state basis. Sunrise Management & Consulting will prepare customized reports to meet any user's specific needs. A free report can be found at Information on customized reports can be obtained by contacting Sunrise at 518-782-0200.
Sunrise is the creator of the , a real estate research and analysis service specializing in accurate up-to-date information on multifamily markets throughout the United States and the system for maximizing property investments. Headquartered in Albany, NY, Sunrise Management & Consulting AMO is an innovative property management company providing property management services, market research, and consulting to property owners, investors and homeowner associations throughout the United States. For information about Sunrise find us at
Jesse Holland
Office: 518-782-0200 x102
Cell: 518-365-9689
Themen in dieser Pressemitteilung:
Unternehmensinformation / Kurzprofil:
Datum: 30.12.2011 - 08:05 Uhr
Sprache: Deutsch
News-ID 1069176
Anzahl Zeichen: 0
contact information:
Contact person:
Town:
ALBANY, NY
Phone:
Kategorie:
Residential Real Estate
Anmerkungen:
Diese Pressemitteilung wurde bisher 837 mal aufgerufen.
Die Pressemitteilung mit dem Titel:
"Fall 2011 Sunrise Multifamily Rental Market Report Finds Rental Rates Recovering Throughout Northeast Markets
"
steht unter der journalistisch-redaktionellen Verantwortung von
Sunrise Management & Consulting (Nachricht senden)
Beachten Sie bitte die weiteren Informationen zum Haftungsauschluß (gemäß TMG - TeleMedianGesetz) und dem Datenschutz (gemäß der DSGVO).
