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IRR-Detroit Mid-Year Viewpoint 2015 Local Market Report - Multifamily

08/05/2015
Published By: Integra Realty Resources

Market Commentary

The apartment market continues to benefit from strong market fundamentals. Landlords are experiencing increased net income as a result of lower vacancy, increasing rental rates, and limited concessions. There is strong demand for multifamily units and new product entering the market is being quickly absorbed. This sector is beginning to see significant new construction projects. Achievable rental rates are typically $2.00/SF for new projects, which supports the cost of construction.

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Download the full version PDF of this Local Market Report below to see the charts, graphs, and tables not included above.

IRR Mid-Year Viewpoint 2015 comprises a National Overview report and 300+ two-page Local Market Reports for all key property types as well as additional resources, including metrics methodology, graphs, and tables; these free reports may be downloaded from IRR’s site here.

Release Date08/05/2015 - 14:30

Source

Integra Realty Resources

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