Nice Axiometrics chart posted by MFE Mag showing the top apartment building investment markets for rent growth and employment growth. I understand the tech employment growth in SF San Jose and Seattle but the 2.8% job growth in Salt Lake City caught me by surprise. What do you think is driving job growth there?
Employment growth is one of the key drivers of a good apartment market but it can be overrun by rampant new construction. As The Apartment Building Investment Cycle Turns you might call it. In another Axiometrics chart from their National Monthly Rent Trends report the Seattle Downtown/Capitol Hill submarket has almost 3,200 units under construction.
That report has a number of other good charts included, well worth a click over there.