Apartment sector revenues have been hit hard in the past two years: Revenues have fallen an average of 7.7 percent since the period of national job loss began in Q1 2008.
But not every metro area is suffering. By far the biggest winner over the past two years was El Paso, Texas, where revenues actually climbed meaningfully, rising 5.2 percent. Separating El Paso from the pack, Fort Bliss is in the midst of an expansion that is directly bringing about 15,000 jobs to the metro and indirectly is creating spin-off support positions.
Source: Greg Willett, MPF Research