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Previous Editions

March 2024

Newsletter

March 02, 2024•2 min read

With some key economic growth factors trending upwards, the multifamily real estate market is currently benefiting both renters and investors alike.

For the first time since March 2021, wage growth is outpacing inflation!

Combining this with the fact that the unemployment rates have remained below 4% for the past two years; we can confidently say that we have a robust job market.

For investors, this translates to long-term market strength, supported by robust wage growth and increasing affordability. Additionally, apartments are experiencing high demand due to the substantial gap between owning a home and rental prices, the largest it's been in over 50 years!

The mix of consistent wage growth, strong job markets, and high demand shows that the multifamily market is strengthening again. Despite this upward trend, multifamily properties are currently trading at a 25% discount from previous highs. These signs point to good long-term prospects and great investment opportunities ahead.

The Numbers

In the ever-changing world of multifamily real estate, we're always on the lookout for great investment opportunities. Despite analyzing 41 apartment investment opportunities in February, challenges persist due to limited value-add potential and pricing mismatches.

As we move forward in 2024, we anticipate these challenges to gradually improve. We are committed to maintaining our robust underwriting processes to ensure that only the best investment opportunities are brought your way.

Market News

Kansas City remains fueled by robust job growth and an unmatched affordability with median rent positioned 6.5% lower than the national average.

While many markets experienced flat or negative rent growth in the last 12 months, Kansas City's median rent increased by 1.4%; Which also outpaced the national average of -1.0%.

As we conclude, it's evident that the multifamily real estate market presents both challenges and opportunities. Despite these hurdles, our unwavering dedication to excellence drives us forward.

Your trust fuels our determination, and we're here to guide you to success in the ever-changing real estate landscape.

Reach Your Summit

Jessica Sommers

Jessica Sommers is one of the Founders and Managing Partners of Bright Peak Capital, a real estate investment firm based out of the Greater Seattle area. As the head of financial analysis, Jessica utilizes her real estate and financial experience to significantly reduce risk and find the best opportunities to enhance property performance. Her attention to detail and critical thinking skills are utilized in all aspects of the asset, from locating and analyzing potential properties to remaining on-track and on-budget for property improvements. Jessica has 20 years of experience in the financial services industry, including mortgage lending and operational management. She understands the relationship between people and their money and is genuine in her desire to help others build generational wealth. This unique blend of analytics and heart is the key to Jessica creating valuable relationships and financial trust with her partners and clients.

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