The multi-family sector continues to perform strong in the wake of increased competition

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Multi-family properties continue to see strong income gains, despite increased development taking place. More importantly, the rent growth of the multi-family sector is outpacing inflation by a significant amount. According to CoStar, rent grew by 3.9% from last year, which is a substantial amount higher than the 0.8% increase in inflation. The growth continues in a year when vacancy commensurately grew with the construction to 8.2% from 5.8%.

Demand continues to be favorable for developers due to the demographics of multi-family properties. Many believe apartments have an appealing investment horizon, considering it will take renters some time to financially afford a home.  One reason for this outlook is the part-time employment rate is historically high.

Click here for the full article from Costar, or click here for more Front Street news.

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Virginia MacKoul

Virginia is a graduate from the University of Florida's College of Design Construction and Planning with a degree in Sustainability and the Built Environment, and a minor in Urban Regional Planning. Virginia joined the Front Street team in 2011, as an intern. Upon graduation, Virginia joined the Front Street team full-time as the Director of Client Services. Ms. MacKoul’s addition furthers Front Street’s continued growth and expansion within Gainesville and other North Central Florida markets. She was promoted to Director of Marketing in 2014 and now manages the firm’s team of interns and oversees all marketing and branding activity. Virginia was born in Boston and moved to Lee County, Florida in 1997. Virginia graduated her high school's International Baccalaureate program and started at the University of Florida with a focus on Architecture. Virginia shares Front Street's passion of giving back to the community and those in need. Virginia's hobbies include photography, cooking, football, movies, music, and spending time with her dog, Brinkley.

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