Industry Trends
No Relief From Expenses
By Paula Munger and Eri Bajomo | | Updated
Overview
Most 2024 national apartment market indicators are pointing to a resilient market with sustained demand but lackluster rent growth, which is likely at or near bottom. But looking back at 2023 financial benchmarks revealed yet another challenging year for the rental housing industry, with…
Property Management Industry Pulse: Artificial Intelligence
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The research presented in this report implemented a two-pronged approach to uncover practices, sentiments, and strategies related to the use of AI in the rental housing industry. National Apartment Association (NAA) Research, sponsored by…
The Voice of the Property Manager: 2024 Edition
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The Voice of the Property Manager
Assessing the State of Property Management
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For the 2024 edition of Voice of the Property Manager, NAA Research, sponsored by MRI Software, surveyed nearly 1,000 industry professionals from July 9–22. The analysis…
The Resident Search Journey
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In February 2024, NAA Research, sponsored by RealPage, conducted a survey of apartment residents across the country to gauge their experiences in searching, selecting, touring and applying for new apartments. The survey received nearly 1,000 responses from renters who live in a property with five…
Challenging Times for the Rental Housing Industry
By Paula Munger and Erioreoluwa Bajomo | | Updated
Overview
Insurance, insurance, insurance: it dominated discussions of the apartment industry in 2022 and 2023, but evidenced by data in this report, the financial pain of operating apartments did not stop there. Cooling demand, along with increased competition from new supply and high interest…
2024 Apartment Housing Outlook
By Paula Munger | | Updated
The year 2023 was one of ups and downs for the U.S. economy. By most measures, and certainly official ones, the U.S. did not slide into a recession. Growth slowed then accelerated, the labor market cooled but stayed hot, inflationary pressures eased but stayed elevated. High interest rates were…
Property Management Industry Pulse 2023
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In April 2023, the National Apartment Association (NAA) conducted a survey, sponsored by AppFolio, of more than 2,000 property management industry professionals to uncover their most pressing challenges. This report delves into these challenges — and the solutions being employed to contend…
The Voice of the Property Manager
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The Voice of the Property Manager
Assessing the State of Property Management
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The National Apartment Association (NAA) conducted a survey of property managers, sponsored by MRI Software, in November 2022. More than 2,000 industry…
2021 Income/Expense IQ Executive Summary
By Paula Munger and Leah Cuffy | | Updated
Coming off a year in which the apartment industry arguably turned in its best performance on record, owners and operators are facing more challenges in 2022. Persistent inflation, higher interest rates and a stubbornly tight labor market translate into elevated operating costs, while sagging…
While Rent Was on The Rise In 2021, So Were Wages
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The last quarter of 2021 recorded 9.9% year-over-year rent growth for the U.S on average. The uptick in rent prices across the nation was, however, accompanied by growing wages. Hourly wages soared approximately 5.2% year-over-year as of Q4 2021.
Why Rents are Rising
Demand for rental housing grew…