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National Leaders in Real Estate Research Annual Apartment Survey 2007 “Are We There Yet?” Ken Danter The Danter Company Columbus Apartment Association.

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Presentation on theme: "National Leaders in Real Estate Research Annual Apartment Survey 2007 “Are We There Yet?” Ken Danter The Danter Company Columbus Apartment Association."— Presentation transcript:

1 National Leaders in Real Estate Research Annual Apartment Survey 2007 “Are We There Yet?” Ken Danter The Danter Company Columbus Apartment Association May 17, 2007

2 Outline n Demographic Trends n Employment Trends n Housing Starts n Single Family Trends n Condominium Trends n Apartment Trends

3 Demographic Trends Columbus MSA

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5 Columbus MSA TrendsPopulationHouseholds 19901,345,454513, ,540,157610,757 Change ,70397,257 Percent Change %18.9% 20061,707,963677,333 Change ,80666,576 Percent Change % 20111,862,944741,140 Change ,98163,807 Percent Change %9.4%

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10 Employment Trends Columbus MSA

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16 Building Permit Trends Columbus MSA

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19 SURPLUS

20 Single-Family Trends Columbus MSA

21 SUSTAINABLE

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25 Condominium Trends Columbus MSA

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29 Apartment Trends Columbus, Ohio

30 Columbus, Ohio Vacancy Rate Trends

31 Columbus, Ohio Vacancy Rate By Unit Type

32 Columbus, Ohio Vacancy Rate By Quadrant Northwest5.7% Northeast6.1% Southeast10.1% Southwest15.2% Central City7.8%

33 Columbus, Ohio Median Rent Trends One-BedroomTwo-Bedroom 2007$513$ $499$ $497$ $496$ $495$ $495$ $480$ $470$585 Avg. Annual Increase 2000 – – % 2.8% 1.0%

34 Columbus, Ohio Median Rent By Quadrant One-BedroomTwo-Bedroom Northwest$614$736 Northeast$525$628 Southeast$443$578 Southwest$499$594 Central City$415$590 Overall$513$625

35 The Future n Single family entry level construction to be below sustainable levels for 3 to 5 years n Continued conversions will reduce number of apartments in the market (and the same number of renters) n Decreasing vacancies to stabilize at 6% to 7% over the next two years n Rent increases of 1% to 1.5% per year n Declining concessions

36 For a Copy of Today’s Presentation n Go to and look for Columbus Apartment Association Presentation – May 17, 2007www.danter.com


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