April 19, 2017 / By Dave Dickerson, President/Partner

Dayton Apartment Market Remains Active

2017 ApartmentResults from our 2017 Apartment Market Survey illustrate that the Dayton apartment market remained hot throughout 2016. The overall vacancy rate for the apartment market was 4.66% for the Greater Dayton Area and 4.47% for the Dayton Region, which includes Upper Valley, Middletown, Franklin-Springboro, Springfield, and Xenia.

The Dayton CBD market remains the area’s tightest market with a vacancy rate at 2.64%, followed by the Dayton North, East and West markets. The regional market was led by the Upper Valley market, which had a vacancy rate of 1.99%.

Further, according to PwC’s 2017 Real Estate Survey for the 1st Quarter of 2017, investment criteria for the national apartment market this quarter sits in the contraction phase of the real estate cycle.  The outlook for average rent growth slipped a bit to 2.80%, while the average overall cap rate held at 5.26%. Over the next six months, half of investors foresee overall cap rates rising as much as 50 basis points while the balance foresees them holding steady. On a national level, apartment sales reached a record high in 2016.

Download 2017 Apartment Market Report