Multifamily Industry Trends Q1 2016 - kingsleyassociates.comMultifamily Industry Trends Q1 2016 For...
Transcript of Multifamily Industry Trends Q1 2016 - kingsleyassociates.comMultifamily Industry Trends Q1 2016 For...
Multifamily Industry Trends
Q1 2016
To request permission to use Kingsley data, please contact: Shelby Lee, Marketing Manager 770.908.1220 ext 227 | [email protected]
CONFIDENTIAL | Ⓒ Kingsley Associates
2 Business intelligence for the real estate industry.
Multifamily Industry Trends Q1 2016 For permission to use Kingsley data, contact Shelby Lee:
770.908.1220 ext 227 |[email protected]
Overall Resident Satisfaction
75.8% 75.7% 75.6% 75.4%
76.2% 76.4% 76.6% 76.7% 76.7% 76.6% 76.7% 76.7%
70%
72%
74%
76%
78%
80%
% S
atis
fie
d
Overall resident satisfaction
CONFIDENTIAL | Ⓒ Kingsley Associates
3 Business intelligence for the real estate industry.
Multifamily Industry Trends Q1 2016 For permission to use Kingsley data, contact Shelby Lee:
770.908.1220 ext 227 |[email protected]
Overall Resident Satisfaction by Market
75%
83% 82%
75% 73%
78%
76%
80%
76% 78%
76%
0%
20%
40%
60%
80%
100%
Atlanta Boston Chicago Dallas Denver Los Angeles Miami New York SanFrancisco
Seattle Washington,DC
Q1 2016 Q1 2015
Overall resident satisfaction by market %
Sat
isfi
ed
Change +0.6% +1.6% +3.1% -1.6% -3.1% +0.9% +0.4% -0.6% -1.5% -2.5% +1.5%
CONFIDENTIAL | Ⓒ Kingsley Associates
4 Business intelligence for the real estate industry.
Multifamily Industry Trends Q1 2016 For permission to use Kingsley data, contact Shelby Lee:
770.908.1220 ext 227 |[email protected]
Value for amount paid
Value for Amount Paid
57.8% 58.4% 58.4% 58.1% 56.9% 56.0% 55.1% 54.5% 53.9% 53.5% 53.9% 54.4%
30%
40%
50%
60%
70%
80%
% S
atis
fie
d
CONFIDENTIAL | Ⓒ Kingsley Associates
5 Business intelligence for the real estate industry.
Multifamily Industry Trends Q1 2016 For permission to use Kingsley data, contact Shelby Lee:
770.908.1220 ext 227 |[email protected]
Value for Amount Paid by Market
62% 59%
57% 57%
55% 53%
47%
53%
50% 53%
54%
0%
20%
40%
60%
80%
100%
Atlanta Boston Chicago Dallas Denver Los Angeles Miami New York SanFrancisco
Seattle Washington,DC
Q1 2016 Q1 2015
% S
atis
fie
d
Value for amount paid by market
Change +3.0% +1.2% -0.1% -2.3% +0.1% +0.5% -1.3% +2.5% -0.6% -0.8% +0.4%
CONFIDENTIAL | Ⓒ Kingsley Associates
6 Business intelligence for the real estate industry.
Multifamily Industry Trends Q1 2016 For permission to use Kingsley data, contact Shelby Lee:
770.908.1220 ext 227 |[email protected]
Renter Renewal Intent
54.4% 54.7% 54.9% 54.8% 53.8% 53.5% 53.4% 53.2%
52.3% 51.9% 51.6% 51.5%
40%
45%
50%
55%
60%
65%
70%
Renter renewal intent %
Lik
ely
CONFIDENTIAL | Ⓒ Kingsley Associates
7 Business intelligence for the real estate industry.
Multifamily Industry Trends Q1 2016 For permission to use Kingsley data, contact Shelby Lee:
770.908.1220 ext 227 |[email protected]
Renter Renewal Intent by Market
50%
58% 54%
52% 48%
51% 49%
55% 50%
52% 54%
0%
20%
40%
60%
80%
100%
Atlanta Boston Chicago Dallas Denver Los Angeles Miami New York SanFrancisco
Seattle Washington,DC
Q1 2016 Q1 2015
% L
ike
ly
Renter renewal intent by market
Change -3.2% -0.6% -4.7% -3.3% -3.2% -0.6% -2.3% -1.9% -1.8% -0.6% -0.4%
CONFIDENTIAL | Ⓒ Kingsley Associates
8 Business intelligence for the real estate industry.
Multifamily Industry Trends Q1 2016 For permission to use Kingsley data, contact Shelby Lee:
770.908.1220 ext 227 |[email protected]
Top Renewal Decision Factors 5
5%
51
%
35
%
30
%
32
%
33
%
26
%
21
%
17
%
56
%
53
%
37
%
33
%
32
%
32
%
26
%
23
%
21
%
0%
20%
40%
60%
80%
100%
Rental rate Location Communitymanagement
Security Communityappearance
Apartmentfeatures /
finishes
Floor plan Communityamenities
Lease terms
Q1 2015 Q1 2016
Renewal decision factors %
of
Re
spo
nd
en
ts
CONFIDENTIAL | Ⓒ Kingsley Associates
9 Business intelligence for the real estate industry.
Multifamily Industry Trends Q1 2016 For permission to use Kingsley data, contact Shelby Lee:
770.908.1220 ext 227 |[email protected]
Top Renewal Decision Factors – Residents LIKELY to Renew 7
0%
48
%
44
%
43
%
37
%
40
%
34
%
26
%
19
%
72
%
50
%
46
%
43
%
40
%
39
%
35
%
30
%
22
%
0%
20%
40%
60%
80%
100%
Location Rental rate Communitymanagement
Communityappearance
Security Apartmentfeatures /
finishes
Floor plan Communityamenities
Too muchtrouble to
move
Q1 2015 Q1 2016
Renewal decision factors %
of
Re
spo
nd
en
ts
CONFIDENTIAL | Ⓒ Kingsley Associates
10 Business intelligence for the real estate industry.
Multifamily Industry Trends Q1 2016 For permission to use Kingsley data, contact Shelby Lee:
770.908.1220 ext 227 |[email protected]
Top Renewal Decision Factors – Residents UNSURE of Renewal 6
6%
34
%
23
%
25
%
23
%
20
%
21
%
17
%
19
%
66
%
41
%
27
%
26
%
24
%
24
%
22
%
20
%
19
%
0%
20%
40%
60%
80%
100%
Rental rate Location Security Apartmentfeatures /
finishes
Communitymanagement
Lease terms Communityappearance
Too muchtrouble to
move
Floor plan
Q1 2015 Q1 2016
Renewal decision factors %
of
Re
spo
nd
en
ts
CONFIDENTIAL | Ⓒ Kingsley Associates
11 Business intelligence for the real estate industry.
Multifamily Industry Trends Q1 2016 For permission to use Kingsley data, contact Shelby Lee:
770.908.1220 ext 227 |[email protected]
Top Renewal Decision Factors – Residents UNLIKELY to Renew 6
0%
30
%
21
%
22
%
26
%
18
%
18
%
14
%
13
%
13
%
60
%
31
%
25
%
25
%
25
%
21
%
19
%
17
%
15
%
14
%
0%
20%
40%
60%
80%
100%
Rental rate Communitymanagement
Security Location Apartmentfeatures /
finishes
Other Communityappearance
Lease terms Communityamenities
Floor plan
Q1 2015 Q1 2016
Renewal decision factors %
of
Re
spo
nd
en
ts
CONFIDENTIAL | Ⓒ Kingsley Associates
12 Business intelligence for the real estate industry.
Multifamily Industry Trends Q1 2016 For permission to use Kingsley data, contact Shelby Lee:
770.908.1220 ext 227 |[email protected]
Interest in apartment features
Top 10 Apartment Features % Interested (4s and 5s) Expected Monthly Cost
High Speed Internet Access
Walk-in Closet
Soundproof Walls
Microwave
Patio or Balcony
Washer / Dryer in Unit
Refrigerator with Water / Ice Dispenser
Garbage Disposal
Ceiling Fan
Smart Thermostats $35
$31
$17
$31
$64
$52
$21
$62
$49
$35
81%
81%
83%
85%
87%
87%
87%
88%
89%
94%
Source: 2015 NMHC/Kingsley Apartment Resident Preferences Survey
CONFIDENTIAL | Ⓒ Kingsley Associates
13 Business intelligence for the real estate industry.
Multifamily Industry Trends Q1 2016 For permission to use Kingsley data, contact Shelby Lee:
770.908.1220 ext 227 |[email protected]
Interest in community amenities
Top 10 Community Amenities % Interested (4s and 5s) Expected Monthly Cost
Parking
Pool
Fitness Center
Recycling
Secured Community Access
Non-smoking Buildings
Green Certifications
Green Initiatives
Additional Storage Space outside of Unit
Package Delivery Room $20
$34
$31
$33
$37
$38
$26
$41
$46
$32
72%
72%
73%
75%
76%
80%
80%
82%
83%
94%
Source: 2015 NMHC/Kingsley Apartment Resident Preferences Survey
CONFIDENTIAL | Ⓒ Kingsley Associates
14 Business intelligence for the real estate industry.
Multifamily Industry Trends Q1 2016 For permission to use Kingsley data, contact Shelby Lee:
770.908.1220 ext 227 |[email protected]
Interest in green and healthy community amenities
Top 10 Green/Healthy Amenities % Interested (4s and 5s) Expected Monthly Cost
Fitness Center
Recycling
Non-smoking Buildings
Green Certifications
Green Initiatives
Fitness Classes
Community Vegetable Garden
Bike Storage
Car-charging Station
Bike Sharing $24
$35
$21
$35
$44
$31
$33
$37
$26
$41
18%
19%
33%
39%
59%
73%
75%
76%
80%
82%
Source: 2015 NMHC/Kingsley Apartment Resident Preferences Survey
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