Q2 Apartment Demand Rises – NMP
Industry News

Q2 Apartment Demand Rises

Jul 01, 2019
Photo credit: Getty Images/mars58

Demand for apartment houses was on the rise during the second quarter, according to data from the real estate technology and analytics firm RealPage Inc.
 
Between April and June, net move-ins totaled 155,515 units, up 11 percent from one year earlier to a five-year high. Rents for new leases increased 1.8 percent during the second quarter while rents increased three percent from year-ago levels, reaching an average of $1,390 per month.
 
The Dallas-Fort Worth metro area led the nation in apartment leasing activity during the second quarter, with renters snagging up 10,443 units. Net move-ins passed the 6,000-unit level in Chicago, Houston, New York and Washington, D.C. Building in the apartment sector remained at three-decade highs, with more than 418,000 units of market-rate apartment properties under construction scheduled to be completed over the next 18 months.
 
“Apartment leasing activity accelerates during the warmer weather months, and demand is proving especially strong in this year’s primary leasing season,” said RealPage Chief Economist Greg Willett. “Solid economic growth is encouraging new household formation, and rentals are capturing a sizable share of the resulting housing demand. At the same time, loss of existing renters to home purchase remains limited relative to historical levels.”
Demand for apartment houses was on the rise during the second quarter, according to data from the real estate technology and analytics firm RealPage Inc.
 
About the author
Phil Hall
Link copied
Published
Jul 01, 2019
Get the NMP Daily
Industry News
Newfi And Addy AI Announce Partnership

Newfi and Addy AI today announced a collaboration focused on the continued evolution of artificial intelligence in mortgage lending

Newfi and Addy AI today announced a collaboration focused on the continued evolution of artificial intelligence in mortgage lending.Newfi has built innovative lending products and a modern approach to the mortgage market. As the industry evolves, the company continues to exp...

Continue reading
Analysis and Data
Smaller Down Payments Give Buyers More Room, But Rates Limit The Savings

The typical down payment fell 9% from a year ago, while shifting market conditions are giving originators different affordability conversations across the country

Homebuyers are putting less money down than they were a year ago, another sign that increased inventory and greater negotiating room are changing the purchase market.The typical down payment fell to $27,100 in the second quarter of 2026, the lowest second-quarter dollar amou...

Continue reading
Renew your NMLS License — for free.

Enjoy access to a free NMLS renewal class when you attend an in-person event.

Find an event
More from
Industry News
CHLA: More Freddie Mac MBS Buying Could Narrow Mortgage Spreads

Trade group estimates greater Freddie participation could compress spreads another 10 to 12 basis points as Fannie has taken the lead in GSE mortgage-bond buying

Industry News
Sep 23, 2026
Early Loan-Limit Race Splits Into Three Tiers

Lenders are now offering $845,000, $847,440, or $850,000 before FHFA sets the official 2027 limits

Industry News
Sep 23, 2026
Better, Garg Clash Over Claimed 46% Shareholder Support

Better disputes its former CEO’s preliminary consent count as the two sides trade accusations and an Oct. 2 target date approaches

C-Suite Strategies
Sep 23, 2026
Fannie Changes How Rent From A Former Home Counts

Fannie now prohibits leases for departing residences and permits market-analysis tools instead of Form 1007, creating a key documentation difference from Freddie Mac

Regulation and Compliance
Sep 22, 2026
MPF Expands Eligibility For Manufactured And Renovation Loans

The Mortgage Partnership Finance Program has expanded MPF Traditional eligibility for affordable loans, manufactured homes, renovations, and lender-funded assistance

Industry News
Sep 22, 2026