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The economy has been in a strange place, and much like the early days of the pandemic, many have paused to wait and see what happens. This is an understandable reaction when faced with uncertainty. However, others, like myself and my company Blue Lake Capital, see this as opportunity. As Warren Buffett said, “Be fearful when others are greedy, and greedy when others are fearful.”
While real estate investors have benefited from an incredibly robust market for the last several years, some fear that might come to end. Yet, the reality is that it will not, as a recent report from Black Knight, a mortgage technology and data provider, reports that If mortgage rates were to “rise just 50 basis points more, or home prices were to increase just 5% more, home affordability would be the worst on record”. As a multifamily investor, the reality is that housing is a critical and fundamental need, and as such the demand will continue to keep this investment generally very steady and profitable.
So, which markets are continuing to lead in rent growth? Let’s take a look…
10. Las Vegas, NV
YoY Rent Growth as of July 2022: 14.0%
Average Apartment Rent: $1,506
Percentage of Renters vs Homeowners: 47%
9. Seattle, WA
YoY Rent Growth as of July 2022: 14.9%
Average Apartment Rent: $2,334
Percentage of Renters vs Homeowners: 40%
8. Charlotte, NC
YoY Rent Growth as of July 2022: 15.6%
Average Apartment Rent: $1,639
Percentage of Renters vs Homeowners: 47%
7. Dallas, TX
YoY Rent Growth as of July 2022: 16.1%
Average Apartment Rent: $1,568
Percentage of Renters vs Homeowners: 59%
6. Nashville, TN
YoY Rent Growth as of July 2022: 16.5%
Average Apartment Rent: $1,819
Percentage of Renters vs Homeowners: 47%
5. Tampa, FL
YoY Rent Growth as of July 2022: 17.4%
Average Apartment Rent: $1,915
Percentage of Renters vs Homeowners: 51%
4. Raleigh, NC
YoY Rent Growth as of July 2022: 17.5%
Average Apartment Rent: $1,631
Percentage of Renters vs Homeowners: 49%
3. Orange County, CA
YoY Rent Growth as of July 2022: 17.6%
Average Apartment Rent: $2,524
Percentage of Renters vs Homeowners: 41%
2. Miami Metro, FL
YoY Rent Growth as of July 2022: 19.5%
Average Apartment Rent: $2,307
Percentage of Renters vs Homeowners: 70%
1. Orlando, FL
YoY Rent Growth as of July 2022: 20.2%
Average Apartment Rent: $1,937
Percentage of Renters vs Homeowners: 63%
Want to Invest with Blue Lake Capital?
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About the Author
Ellie is the founder of Blue Lake Capital, a commercial real estate investment firm specializing in multifamily investing throughout the United States. At Blue Lake Capital, Ellie partners with both institutional and individual investors to grow their wealth by achieving double-digit returns by investing alongside her in exclusive multifamily deals they usually don't have access to.
A defining factor of Blue Lake Capital’s strategy is founded in utilizing machine learning/artificial intelligence throughout the course of all acquisitions and asset management. This advanced technology enables the company to produce accurate and data-driven forecasting for all assets on a market, property, and even tenant basis. In doing so, Blue Lake is able to lead commercial investments with the full capabilities of today’s technology.
Ellie is the host of REady2Scale, a podcast that highlights the assets, processes, and strategies for the multiple approaches to successful real estate investing.
She started her career as a commercial real estate lawyer, leading real estate transactions for one of Israel’s leading development companies. Later, as a property manager for Israel’s largest energy company, she oversaw properties worth over $100MM. Additionally, Ellie is an experienced entrepreneur who helped build and scale companies by improving their business operations.
Ellie holds a Masters in Law from Bar-Ilan University in Israel and an MBA from MIT Sloan School of Management.
You can read more about Blue Lake Capital and Ellie Perlman at www.bluelake-capital.com.
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