MULTIFAMILY - Kingsley Associates€¦ · Atlanta Boston Chicago Dallas Denver Los Angeles Miami...
Transcript of MULTIFAMILY - Kingsley Associates€¦ · Atlanta Boston Chicago Dallas Denver Los Angeles Miami...
Q1 2019
MULTIFAMILYINDUSTRY TRENDS
Multifamily Industry TrendsFor permission to use Kingsley data, contact Brianna Bocker:770.908.1220 ext 265 |[email protected]
Overall resident satisfaction
2013 Q3 2014 Q1 2014 Q3 2015 Q1 2015 Q3 2016 Q1 2016 Q3 2017 Q1 2017 Q3 2018 Q1 2018 Q3 2019 Q1
70%
72%
74%
76%
78%
% Satisfied
75.7%75.6% 75.4%
76.2%76.4%76.6%
76.7%76.7%76.6%76.7%76.7%76.7%76.8%76.7%76.7%76.8%76.7%76.9%77.0%
77.3%77.8%77.9%
78.5%
Overall Resident Satisfaction
Business intelligence for thereal estate industry
Q1 2019
Multifamily Industry TrendsFor permission to use Kingsley data, contact Brianna Bocker:770.908.1220 ext 265 |[email protected]
Overall resident satisfaction by market
Atlanta Boston Chicago Dallas Denver Los Angeles Miami New York San Francisco Seattle Washington, DC
0%
20%
40%
60%
80%
100%
% Satisfied
76.5%83.7% 83.7%
79.0% 77.3% 79.2% 79.6% 82.6%77.3% 78.4% 76.6%
Overall Resident Satisfaction by Market
0.3%1.9%1.2%1.9%3.1%0.8%1.3%3.4%3.1%1.2%-0.1%Change
Business intelligence for thereal estate industry
Q1 2018 Q1 2019
Q1 2019
Multifamily Industry TrendsFor permission to use Kingsley data, contact Brianna Bocker:770.908.1220 ext 265 |[email protected]
Value for amount paid
2013 Q3 2014 Q1 2014 Q3 2015 Q1 2015 Q3 2016 Q1 2016 Q3 2017 Q1 2017 Q3 2018 Q1 2018 Q3 2019 Q1
54%
56%
58%
60%
% Satisfied
54.9%
58.4% 58.4%58.2%
57.0%
56.2%
55.3%
54.5%
53.9%53.5%
53.9%
54.4%54.2%
54.8% 54.7%55.0%
54.4% 54.5%
55.9%
57.4%
59.3%
59.8%
60.3%
Value for Amount Paid
Business intelligence for thereal estate industry
Q1 2019
Multifamily Industry TrendsFor permission to use Kingsley data, contact Brianna Bocker:770.908.1220 ext 265 |[email protected]
Value for amount paid by market
Atlanta Boston Chicago Dallas Denver Los Angeles Miami New York San Francisco Seattle Washington, DC
0%
20%
40%
60%
80%
100%
% Satisfied
67.3% 66.0% 65.0% 64.6%59.1% 59.6% 60.0% 63.0%
57.3% 60.0% 56.9%
Value for Amount Paid by Market
Change 0.1%7.5%6.6%4.6%6.1%6.2%2.0%6.3%8.4%3.7%2.9%
Business intelligence for thereal estate industry
Q1 2018 Q1 2019
Q1 2019
Multifamily Industry TrendsFor permission to use Kingsley data, contact Brianna Bocker:770.908.1220 ext 265 |[email protected]
Renter renewal intent
2013 Q3 2014 Q1 2014 Q3 2015 Q1 2015 Q3 2016 Q1 2016 Q3 2017 Q1 2017 Q3 2018 Q1 2018 Q3 2019 Q1
50%
52%
54%
56%
58%
% Likely
54.9%54.7% 54.8%
53.8%53.5%53.4%53.2%
52.3%51.9%
51.6%51.5%51.4%
52.3%
53.0%53.0%
54.0%53.8%53.7%
54.6%54.5%54.9%
55.6%
56.3%
Renter Renewal Intent
Business intelligence for thereal estate industry
Q1 2019
Multifamily Industry TrendsFor permission to use Kingsley data, contact Brianna Bocker:770.908.1220 ext 265 |[email protected]
Renter renewal intent by market
Atlanta Boston Chicago Dallas Denver Los Angeles Miami New York San Francisco Seattle Washington, DC
0%
20%
40%
60%
80%
100%
% Likely
59.1%64.4%
58.3% 54.4% 54.2% 55.4% 52.2%59.5% 57.6% 55.3% 54.9%
Renter Renewal Intent by Market
Change -4.9%2.3%4.1%0.4%2.4%2.2%4.5%4.5%4.4%2.5%3.4%
Business intelligence for thereal estate industry
Q1 2018 Q1 2019
Q1 2019
Multifamily Industry TrendsFor permission to use Kingsley data, contact Brianna Bocker:770.908.1220 ext 265 |[email protected]
Renewal decision factors
Rental rate LocationCommunitymanagement
Apartment features /finishes
SecurityCommunityappearance
Floor planCommunityamenities
Lease terms
0%
20%
40%
60%
80%
100%
% of Respondents
50.6% 49.0% 50.2% 49.2%
35.7% 36.0% 31.6% 30.4% 31.4% 28.8% 29.9% 28.5% 28.7% 26.8% 23.0% 22.6% 18.5% 16.1%
Top Renewal Decision Factors
Business intelligence for thereal estate industry
Q1 2018 Q1 2019
Q1 2019
Multifamily Industry TrendsFor permission to use Kingsley data, contact Brianna Bocker:770.908.1220 ext 265 |[email protected]
Renewal decision factors
LocationCommunitymanagement
Rental rate Floor planCommunityappearance
Apartment features /finishes
SecurityCommunityamenities
Too much trouble tomove
0%
20%
40%
60%
80%
100%
% of Respondents
71.6% 71.4%
45.1% 45.1% 43.2% 41.4% 40.5% 37.8% 39.5% 37.6% 38.3% 37.5% 37.7% 34.8% 30.0% 29.6%19.9% 21.3%
Top Renewal Decision Factors - Residents LIKELY to Renew
Business intelligence for thereal estate industry
Q1 2018 Q1 2019
Q1 2019
Multifamily Industry TrendsFor permission to use Kingsley data, contact Brianna Bocker:770.908.1220 ext 265 |[email protected]
Renewal decision factors
Rental rate Location SecurityApartment features /
finishesCommunitymanagement
Lease termsCommunityappearance
Floor planToo much trouble to
move
0%
20%
40%
60%
80%
100%
% of Respondents
62.2% 61.4%
31.4% 29.1%23.2% 21.1% 23.0% 21.1% 20.2% 20.0% 20.1% 18.3% 18.4% 17.3% 17.4% 16.2% 15.9% 15.6%
Top Renewal Decision Factors - Residents UNSURE of Renewal
Business intelligence for thereal estate industry
Q1 2018 Q1 2019
Q1 2019
Multifamily Industry TrendsFor permission to use Kingsley data, contact Brianna Bocker:770.908.1220 ext 265 |[email protected]
Renewal decision factors
Rental rateCommunitymanagement
Apartment features /finishes
Security OtherCommunityappearance
Location Lease termsCommunityamenities
0%
20%
40%
60%
80%
100%
% of Respondents
55.4% 53.5%
30.9% 32.1%24.7% 23.4% 24.9% 22.4% 20.4% 17.6% 19.3% 18.2% 18.2% 15.2% 15.7% 13.5% 14.3% 13.8%
Top Renewal Decision Factors - Residents UNLIKELY to Renew
Business intelligence for thereal estate industry
Q1 2018 Q1 2019
Q1 2019
770.908.1220 ext. 265|[email protected]
For permissions to use the Kingsley data, contact Brianna Bocker:Q1 2019 Multifamily Industry Trends
Business intelligence for the real estate industry
Q1 2019
Additional Slides
770.908.1220 ext. 265|[email protected]
For permissions to use the Kingsley data, contact Brianna Bocker:Q1 2019 Multifamily Industry Trends
Business intelligence for the real estate industry
Renewal time trend by market most varied
40%
45%
50%
55%
60%
65%
70%
2013 Q4 2014 Q3 2015 Q2 2016 Q1 2016 Q4 2017 Q3 2018 Q2 2019 Q1
Boston Miami Washington, DC Seattle
% L
ike
ly
Resident Renewal Intentions by Market
770.908.1220 ext. 265|[email protected]
For permissions to use the Kingsley data, contact Brianna Bocker:Q1 2019 Multifamily Industry Trends
Business intelligence for the real estate industry
Sites Used in Apartment Search Time Trend
29.0% 28.6%
20.8%
11.7%10.5%
5.6%4.2% 4.2%
3.1%
7.3%
19.8%
22.2%
1.2%
6.6%
9.4%
7.0% 7.2%6.0%
0%
5%
10%
15%
20%
25%
30%
35%
Apartments.com Google Community /
Company
Website
Zillow Apartment
Finder
Apartment
Guide
Apartment
Ratings
Craigslist Rent.com
2019 2014
% S
ele
cte
d
Sites Used in Most Recent Apartment Search - 5 Year Comparison
www.kingsleyassociates.com
@Kingsley_Assoc
HEADQUARTERS44 Montgomery StreetSuite 1430San Francisco, CA 94104
415.777.1140
ATLANTA OFFICE229 Peachtree Street NE Suite 1100 Atlanta, GA 30303
770.908.1220