multifamily - kingsley associates€¦ · atlanta boston chicago dallas denver los angeles miami...

Q1 2019

MULTIFAMILYINDUSTRY TRENDS

Multifamily Industry TrendsFor permission to use Kingsley data, contact Brianna Bocker:770.908.1220 ext 265 |[email protected]

Overall resident satisfaction

2013 Q3 2014 Q1 2014 Q3 2015 Q1 2015 Q3 2016 Q1 2016 Q3 2017 Q1 2017 Q3 2018 Q1 2018 Q3 2019 Q1

70%

72%

74%

76%

78%

% Satisfied

75.7%75.6% 75.4%

76.2%76.4%76.6%

76.7%76.7%76.6%76.7%76.7%76.7%76.8%76.7%76.7%76.8%76.7%76.9%77.0%

77.3%77.8%77.9%

78.5%

Overall Resident Satisfaction

Business intelligence for thereal estate industry

Q1 2019


Overall resident satisfaction by market

Atlanta Boston Chicago Dallas Denver Los Angeles Miami New York San Francisco Seattle Washington, DC

0%

20%

40%

60%

80%

100%

% Satisfied

76.5%83.7% 83.7%

79.0% 77.3% 79.2% 79.6% 82.6%77.3% 78.4% 76.6%

Overall Resident Satisfaction by Market

0.3%1.9%1.2%1.9%3.1%0.8%1.3%3.4%3.1%1.2%-0.1%Change


Q1 2018 Q1 2019

Q1 2019


Value for amount paid

2013 Q3 2014 Q1 2014 Q3 2015 Q1 2015 Q3 2016 Q1 2016 Q3 2017 Q1 2017 Q3 2018 Q1 2018 Q3 2019 Q1

54%

56%

58%

60%

% Satisfied

54.9%

58.4% 58.4%58.2%

57.0%

56.2%

55.3%

54.5%

53.9%53.5%

53.9%

54.4%54.2%

54.8% 54.7%55.0%

54.4% 54.5%

55.9%

57.4%

59.3%

59.8%

60.3%

Value for Amount Paid


Q1 2019


Value for amount paid by market


0%

20%

40%

60%

80%

100%

% Satisfied

67.3% 66.0% 65.0% 64.6%59.1% 59.6% 60.0% 63.0%

57.3% 60.0% 56.9%

Value for Amount Paid by Market

Change 0.1%7.5%6.6%4.6%6.1%6.2%2.0%6.3%8.4%3.7%2.9%


Q1 2018 Q1 2019

Q1 2019


Renter renewal intent

2013 Q3 2014 Q1 2014 Q3 2015 Q1 2015 Q3 2016 Q1 2016 Q3 2017 Q1 2017 Q3 2018 Q1 2018 Q3 2019 Q1

50%

52%

54%

56%

58%

% Likely

54.9%54.7% 54.8%

53.8%53.5%53.4%53.2%

52.3%51.9%

51.6%51.5%51.4%

52.3%

53.0%53.0%

54.0%53.8%53.7%

54.6%54.5%54.9%

55.6%

56.3%

Renter Renewal Intent


Q1 2019


Renter renewal intent by market


0%

20%

40%

60%

80%

100%

% Likely

59.1%64.4%

58.3% 54.4% 54.2% 55.4% 52.2%59.5% 57.6% 55.3% 54.9%

Renter Renewal Intent by Market

Change -4.9%2.3%4.1%0.4%2.4%2.2%4.5%4.5%4.4%2.5%3.4%


Q1 2018 Q1 2019

Q1 2019


Renewal decision factors

Rental rate LocationCommunitymanagement

Apartment features /finishes

SecurityCommunityappearance

Floor planCommunityamenities

Lease terms

0%

20%

40%

60%

80%

100%

% of Respondents

50.6% 49.0% 50.2% 49.2%

35.7% 36.0% 31.6% 30.4% 31.4% 28.8% 29.9% 28.5% 28.7% 26.8% 23.0% 22.6% 18.5% 16.1%

Top Renewal Decision Factors


Q1 2018 Q1 2019

Q1 2019



LocationCommunitymanagement

Rental rate Floor planCommunityappearance


SecurityCommunityamenities

Too much trouble tomove

0%

20%

40%

60%

80%

100%

% of Respondents

71.6% 71.4%

45.1% 45.1% 43.2% 41.4% 40.5% 37.8% 39.5% 37.6% 38.3% 37.5% 37.7% 34.8% 30.0% 29.6%19.9% 21.3%

Top Renewal Decision Factors - Residents LIKELY to Renew


Q1 2018 Q1 2019

Q1 2019



Rental rate Location SecurityApartment features /

finishesCommunitymanagement

Lease termsCommunityappearance

Floor planToo much trouble to

move

0%

20%

40%

60%

80%

100%

% of Respondents

62.2% 61.4%

31.4% 29.1%23.2% 21.1% 23.0% 21.1% 20.2% 20.0% 20.1% 18.3% 18.4% 17.3% 17.4% 16.2% 15.9% 15.6%

Top Renewal Decision Factors - Residents UNSURE of Renewal


Q1 2018 Q1 2019

Q1 2019



Rental rateCommunitymanagement


Security OtherCommunityappearance

Location Lease termsCommunityamenities

0%

20%

40%

60%

80%

100%

% of Respondents

55.4% 53.5%

30.9% 32.1%24.7% 23.4% 24.9% 22.4% 20.4% 17.6% 19.3% 18.2% 18.2% 15.2% 15.7% 13.5% 14.3% 13.8%

Top Renewal Decision Factors - Residents UNLIKELY to Renew


Q1 2018 Q1 2019

Q1 2019

770.908.1220 ext. 265|[email protected]

For permissions to use the Kingsley data, contact Brianna Bocker:Q1 2019 Multifamily Industry Trends

Business intelligence for the real estate industry

Q1 2019

Additional Slides




Renewal time trend by market most varied

40%

45%

50%

55%

60%

65%

70%

2013 Q4 2014 Q3 2015 Q2 2016 Q1 2016 Q4 2017 Q3 2018 Q2 2019 Q1

Boston Miami Washington, DC Seattle

% L

ike

ly

Resident Renewal Intentions by Market




Sites Used in Apartment Search Time Trend

29.0% 28.6%

20.8%

11.7%10.5%

5.6%4.2% 4.2%

3.1%

7.3%

19.8%

22.2%

1.2%

6.6%

9.4%

7.0% 7.2%6.0%

0%

5%

10%

15%

20%

25%

30%

35%

Apartments.com Google Community /

Company

Website

Zillow Apartment

Finder

Apartment

Guide

Apartment

Ratings

Craigslist Rent.com

2019 2014

% S

ele

cte

d

Sites Used in Most Recent Apartment Search - 5 Year Comparison

www.kingsleyassociates.com

@Kingsley_Assoc

HEADQUARTERS44 Montgomery StreetSuite 1430San Francisco, CA 94104

415.777.1140

ATLANTA OFFICE229 Peachtree Street NE Suite 1100 Atlanta, GA 30303

770.908.1220

multifamily - kingsley associates€¦ · atlanta boston chicago dallas denver los angeles miami...

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