home subscribe advertise reprints e-mail help RSS about us LOG IN

Mortgage News


Mortgage News

HOT Topics









site map

twitter linkedin
facebook google+

Mortgage News

News by Subject
Complete list of specialty news sections.

Purchase Subscription
Subscribe to MortgageDaily.com and get immediate access to all news, statistics and archives.

Mortgage Advertising
Reach mortgage executives, loan originators and other people tied to mortgage industry.

Consumer Mortgage News
Free mortgage news for prospective borrowers.

Mortgage Newsletter
Free e-mail newsletter with the latest headlines from MortgageDaily.com.

Mortgage News Reprints
Put entire MortgageDaily.com stories in your online or printed newsletter or publication.

Mortgage Feedget RSS code
Condensed MortgageDaily.com stories free on your Web site or for your RSS reader.

News Archives
Archive of MortgageDaily.com stories by month going back to 1999.

Press Releases
Reports and announcements from MortgageDaily.com.

Mortgage Statistics
Data and statistics for real estate finance.

Mortgage Directories
Directories of lenders, branch operators and mortgage service providers.

Mortgage Graphs
Directories of lenders, branch operators and mortgage service providers.

New Research Estimates Value of the Apartment Sector for First Time; Finds the Nation's Apartments Represent $1.3 Trillion in Value

WASHINGTON, Oct. 22 /PRNewswire/ -- The National Multi Housing Council (NMHC) has published new research estimating the value of the nation's apartment stock and its growth over the past 10 years for the first time. According to the research conducted by leading academics in real estate finance and funded through a grant from Fannie Mae, the 16.1 million apartment units in the U.S. in buildings of at least five units are valued at approximately $1.3 trillion.

``Estimating the value of the existing stock has always been a complicated undertaking because of the lack of consistent and reliable data,'' noted Mark Obrinsky, NMHC's Chief Economist in releasing the report. ``Yet the estimated value has been sought by many diverse groups for several reasons. First, such an estimate allows the industry to flex its political 'muscle' by showing its size and value. It enables lenders and equity holders to determine what proportion of the market they represent and to evaluate their exposure. It allows industry suppliers to better measure the depth of the market. And finally, it enables us to estimate the overall equity in apartments by coupling it with existing data on the amount of mortgage debt outstanding.''

The research finds that the value of the apartment stock has increased from an estimated $767.1 billion in 1990, an average annual increase in value of 5.5 percent during the decade, substantially higher than the rate of inflation for that same period.

The analysis also provides the estimated value of the apartment stock in 71 of the largest U.S. metropolitan areas. Per square foot values of apartment units range from a high of $301.52 in San Jose to a low of $36.87 in Birmingham, AL. Based on value, as opposed to the number of units, the top 10 apartment markets are as follows:

    Metro Area               Stock         Value            Total

                            (000s)        ($/SF)        Valuation


    New York, NY           1,761.0       $150.65       $226,871.4

    Los Angeles, CA          928.2       $144.11       $111,975.1

    Boston, MA               316.3       $203.33        $56,312.4

    San Francisco, CA        225.7       $281.16        $51,188.1

    Chicago, IL              724.9        $79.94        $47,833.5

    Washington, DC           438.7       $123.12        $46,660.9

    San Diego, CA            250.8       $154.25        $32,691.1

    San Jose, CA             124.8       $301.52        $32,493.3

    Oakland, CA              188.8       $193.98        $30,426.7

    Orange County, CA        223.0       $153.74        $30,215.7

The lead researcher on this project was Ken Rosen. President of Rosen Consulting Group, Ken is also a Professor of Business Administration and Chairman of the Fisher Center for Real Estate and Urban Economics at the University of California, Berkeley. He holds a Ph.D. in Economics from the Massachusetts Institute of Technology and has authored more than 95 articles and books on real estate finance. Joining him were Susan U. Persin and Daniel T. Van Dyke, Principals in Rosen Consulting Group and Jeanine Kranitz, an Associate in the firm.

Based in Washington, DC, NMHC is a national association representing the interests of the larger and most prominent apartment firms in the U.S. NMHC's members are the principal officers of firms engaged in all aspects of the apartment industry, including ownership, development, management and financing. NMHC advocates on behalf of rental housing, conducts apartment- related research, encourages the exchange of strategic business information and promotes the desirability of apartment living. More than one-third of Americans rent their housing, and one in five Americans lives in an apartment. For more information, contact NMHC at 202/974-2300, e-mail the Council at [email protected], or visit NMHC's Web site at http://www.nmhc.org .

National Multi Housing Council
hosted by USANow.net

SUBSCRIBERS: Edit Subscription | Subscription Help | or call 214.521.1300

Subscribe Contact Us Site Map

Copyright © 2017 Mortgage Daily, D a l l a s
Subsribers Only:

AMC directory

ARM indexes

mortgage company directory

mortgage regulations

net branch directory

p r i c i n g engine directory

wholesale lender directory

More Mortgage News Resources (full site map):

advertising news

appraisal news

bank news

biggest lenders

commercial mortgage news

corporate mortgage news

credit news

FHA news

financial regulation news

foreclosure news

GSE news

jumbo mortgage news

interest rates

loan modification news

loan originator survey

LOS Newsletter


mortgage associations

mortgage-backed securities

mortgage books

mortgage brokers

mortgage compliance

mortgage conferences

mortgage directories

mortgage education

mortgage employment

mortgage employment index

mortgage executives

mortgage fraud

mortgage fraud blog

mortgage fraud local news

Mortgage Fraud Index

Mortgage Graveyard

mortgage insurance news

mortgage lawsuits

mortgage leads

mortgage lender ranking

mortgage licenses

mortgage litigation

Mortgage Litigation Index

Mortgage Market Index

mortgage mergers

mortgage news

mortgage politics

mortgage press releases

mortgage production

mortgage public relations

mortgage rates

mortgage servicing

mortgage statistics

mortgage technology

mortgage video

mortgage Webinars

net branch

net branch directory

nonprime news

origination news

originator tools

real estate news

refinance news

reverse mortgage news

secondary marketing

social media

servicing news

subprime news

wholesale lenders