SARE January 2023 Residential Real Estate Data Trends
Contents
In this month’s edition of SARE’s Residential Real Estate Data Trends, we see that it’s a good time to be a multifamily landlord for college students in Florida. The following three charts updated with December 2022 data tell this unlikely story.
Rental Demand Holds in Florida
After running laps around the rest of the country, we see that the Florida rental market is still seeing positive growth through December according to Zillow’s rental index (ZORI).
Landlords in Miami and Jacksonville are still at the party but they’re cutting back on bottle service as wages start to decline.
Previously overheated markets in other parts of the country are beginning to pull back slightly.
Landlords Still At the Party
There is no slowdown in the number of apartment units being made despite the decline in the single family market.
Back to School
In an index of the top 10 college towns in the US, we see rent growing still despite a decline across the US. We see the age old adage hold true that downmarkets create more students.
Nelson is the founder of SARE (Subtle Asian Real Estate), a facebook community of almost 20,000 real estate investors with in-person meetups all over the country. Nelson is an investor and syndicator himself, and a real estate data consultant on the side.
