Market-Rate Apartment Metrics Recovering Faster Than Other Sectors
Proptech firm MRI Software said Thursday its studies of multifamily sectors show significant differences in key indicators of recovery, with market-rate generally faring best. Rent collections in affordable housing lag those of market-rate and public housing, while mobility in affordable and public housing trails that of market-rate.
“The findings on market-rate housing are reassuring, despite the modest reduction in payment rates,” said industry principal Brian Zrimsek. “It seems that we’re headed toward a welcome recovery in this sector, and summer leasing activity should add to the momentum. The eventual lifting of eviction moratoriums will replace residents who are currently not able to afford rent.
“In contrast, the drop in payment performance in the affordable sector is of concern,” he continued. “When eviction moratoriums are lifted, we will see some of these tenants move on. But the lack of movement in public housing raises concerns about where these tenants can go.”
Paul Bubny serves as Senior Content Director for Connect Commercial Real Estate, a role to which he brings 13-plus years’ experience covering the commercial real estate industry and 30-plus years in business-to-business journalism. In this capacity, he oversees daily operations while also reporting on both local/regional markets and national trends, covering individual transactions across all property types, as well as delving into broader subject matter. He produces 15-20 daily news stories per day and works with the Connect team and clients to develop longer-form content, ranging from Q&As to thought-leadership pieces.
Prior to joining Connect, Paul was Managing Editor for both Real Estate Forum and GlobeSt.com at American Lawyer Media, where he oversaw operations at both publications while also producing daily news and feature-length articles. His tenure in B2B publishing stretches back into the print era, and he has served as Editor in Chief on four national trade publications.
Since 1999, Paul has volunteered as the newsletter editor of passenger rail advocacy groups (one national, one local).