Archive for November, 2011

Apartments have been the best performers in U.S. commercial real estate,
with more Americans turning away from home ownership and choosing to rent
instead. That has helped drive down the U.S. apartment vacancy rate from 7.4
percent in 2009 toward the 5.3 percent rate seen before the U.S. economic
downturn.

One of the frequent questions that I receive from new apartment building
investors concerns location. Most people want to know whether they
are investing into a high growth area with a lot of rental demand. There is no
simple answer to this issue because the new apartment building buyer must look
at the local demand, state demand and national demand. Fortunately, there are
many areas in the United States right now where there is a strong demand for
rental housing at the local and state level. Demand nationally for rental
housing has been rising steadily for the past three years and a number of
factors will ensure that demand for rental housing nationally will continue to
rise.

According to US census data, demand for rental housing over the last decade
has been robust. This coincides with a steep drop in home ownership that began
in 2006. In fact 4.5 out of every 10 households added in the last ten years are
renters. The average in 2000 was only 34%.

So which states are seeing the largest demand for rental
housing? You might be surprised by some of the rising stars.

1) California - The Bear State was a poster child for
the residential real estate meltdown. Those people dispossed of their homes are
now renters.

2) Nevada - No gamble here. Foreclosure activity in the
last few years has been twice the national average.

3) North Carolina - Investors who got in early can now pat
themselves on the back.

4) Oregon - A young urban population searches for
affordable rental housing.

Below are some surprises: With one in every two new households renting
their homes, these states present a clear first movers advantage.

5) Ohio

6) West Virginia

7) Kansas

North Dakota

9) Pennsylvania

10) Kentucky

So what if your state is not on the list? It will be! No
state has been immune from the residential real estate crisis. Foreclosures are
continuing to climb nationally and all of those people thrown out of their homes
are going to need a place to live. Furthermore, those people who have been
foreclosed on have seen their credit scores severly damaged. They will not
qualify for bank loans to buy another home. And frankly many people were burned
so badly by the residential real estate market that they probably won’t be
buying again for a very long time.

The time to start buying apartment buildings is right now. But don’t jump
into it blindly. First, get the best education you can. It can literally mean
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