Multifamily Florida - Winter 2015 - (Page 27)

DE PA R T M E N T: A PA R T M E N T S BY T hE NU MBE R S OCCUPANCy and AvERAGE RENTS in FLORIDA D ata collected through local Association Online Market Surveys conducted by MyRentComps are aggregated and reported in the Apartment Market Survey and Trend Report known as "AMSTR." Here are some trends of the overall association areas. THIRD-QUARTER OCCUPANCy TRENDS 100 For AMSTR reporting purposes, these are the counties within each association area that make up the statistics in this piece. 85 Apartment Association of Greater Orlando (AAGO): Lake, Orange, Osceola, Seminole, Volusia AAGO BAAA CCAA ECAA FCAA NCFAA SCAA 2014 2011 94.62 97.01 95.31 91.43 95.82 96.77 92.00 95.06 96.86 89.99 94.78 96.06 91.93 96.27 96.14 92.83 95.78 96.78 ASSOCIATION AREAS 92.30 94.04 95.46 90 91.86 95.21 95.70 2015 95 TCAA THIRD-QUARTER OCCUPANCy TREND CHANGES Bay Area Apartment Association (BAAA): Hillsborough, Pasco, Pinellas, Polk Capital City Apartment Association (CCAA): Leon Emerald Coast Apartment Association (ECAA): Escambia AAGO First Coast Apartment Association (FCAA): Clay, Duval CCAA North Central Florida Apartment Association (NCFAA): Alachua, Marion FCAA BAAA 1.42 (0.13) 1.80 SCAA TCAA Tri-City Apartment Association (TCAA): Manatee, Sarasota 0.95 0.69 (1.70) -2 0 1-year change: 2014-15 3.16 4.21 6.07 1.28 NCFAA Space Coast Apartment Association (SCAA): Brevard 3.84 0.49 ECAA 4-year change: 2011-15 3.95 1.00 2 4.86 5.34 4 6 8 ThIRd-QUARTER AvERAGE RENTS (ALL UNITS) $864 AAGO $852 BAAA $734 ECAA $840 NCFAA $726 TCAA PIPELINE 600 720 $988 $971 $988 $803 $826 $797 FCAA 4-yEAR 1-yEAR 4-yEAR 1-yEAR CHANGE CHANGE CHANGE CHANGE $1004 $905 $870 CCAA SCAA $930 $783 $840 $833 840 2011 $893 $906 2014 $951 $962 $955 960 2015 $1,041 1080 1200 2011-15 2014-15 2011-15 2014-15 AAGO $140 $74 16.2% 8.0% BAAA $136 $83 16.0% 9.2% CCAA $118 $17 13.6% 1.8% ECAA $92 $23 12.5% 2.9% FCAA $96 $53 12.0% 6.3% NCFAA $56 $11 6.2% 1.2% SCAA $114 $57 15.7% 7.3% TCAA $208 $86 25.0% 9.0% All of the markets in Florida with a large one-year rent growth trend are being impacted by new, higher-end, higher-rent apartments. New construction will continue to affect occupancy and rent growth trends in Florida markets until this development cycle comes to an end. All the major markets and some of the secondary markets in Florida continue to have large pipelines of new construction properties as investors worldwide continue to look at apartments as an opportunity. Source: MyRentComps Apartment Market Survey and Trend Report (AMSTR) MUlTiFAMilyFloRidA l winter 2015 l 27

Table of Contents for the Digital Edition of Multifamily Florida - Winter 2015

President’s Message : It’s About Giving Back
FAA Update : changing it up
Growth Continues in Multifamily — But for How Long?
Legislative Update : FAA Sets Platform, Plans Statehouse Visits
2015 Annual Conference & Trade Show: FAA University Draws Praise, Record-Breaking Attendance
Community Spotlight: The Courtney at Universal Boulevard
Apartments by The Numbers
Index to Advertisers/Adv.com

Multifamily Florida - Winter 2015

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