Current Markets

The following data represent the most current estimates available.
For list of sources by category, see bottom of page.

Albuquerque, NM
Population (city): 555,417
Population (metro area): 901,700
Number of MF units: 52,714
MF units added year-over-year: 180
Occupancy: 93.4%
Average rent: $729
Median SF home price: $129,000
Unemployment rate: 7.8%
Major employers: Kirtland Air Force Base (40,600), University of New Mexico (14, 300), Sandia National Laboratories (8,400)

Austin, TX
Population (city): 842,593
Population (metro area): 1,834,303
Number of MF units: 188,309
MF units added in Q2: 893
Occupancy: 95.4%
Average rent: $998
Median SF home price: $185,000
Unemployment rate: 5.6%
Major employers (6,000+): Dell, IBM, Federal Government, City of Austin, Austin School District

Boise, ID
Population (city): 213,303
Population (metro area): 637,896
Occupancy (HZ properties): 95.8%
Average rent (HZ properties): $836
Median SF home price: $137,000
Unemployment rate: 6.1%
Major employers: St. Luke’s Health Systems (6,000), Micron Technology (5,000), Meridian Joint School District #2 (4,000)

Colorado Springs, CO
Population (city): 431,834
Population (metro area): 668,353
Number of MF units: 41,475
MF units added year-over-year: 471
Occupancy: 95.0%
Average rent: $788
Median SF home price: $210,000
Unemployment rate: 8.4%
Major employers: Fort Carson (15,200), U.S. Air Force Academy (6,400), Peterson Air Force Base (5,500)

Denver, CO
Population (city): 634,265
Population (metro area): 2,645,209
Number of MF units: 262,677
MF units added year-over-year: 3,690
Occupancy: 96.2%
Average rent: $1,027
Median SF home price: $263,000
Unemployment rate: 6.8%
Major employers: Children’s Hospital Colorado (3,400), Spring Nextel Corp (2,100), Charles Schwab & Co. (1,800)

El Paso, TX
Population (city): 672,538
Population (metro area): 830,735
Number of MF units: 44,635
MF units added year-over-year: 444
Occupancy: 92.2%
Average rent: $710
Median SF home price: $110,556
Unemployment rate: 9.3%
Major employers: El Paso Independent School District (8,700), Fort Bliss (6,800), Ysleta Independent School District (6,500)

Fort Collins, CO
Population (city): 148,612
Population (metro area): 310,487
Occupancy (HZ properties): 96.0%
Average rent (HZ properties): $1,103
Median SF home price: $245,000
Unemployment rate: 5.6%
Major employers: Colorado State University (6,900), Hewlett Packard (3,200), Poudre Valley Health System (3,000), Poudre School District (3,000)

Las Vegas, NV
Population (city): 596,424
Population (metro area): 2,000,759
Number of MF units: 162,477
MF units added year-over-year: 495
Occupancy: 92.5%
Average rent: $736
Median SF home price: $165,000
Unemployment rate: 9.7%
Major employers: Clark County School District (37,000), Clark County (8,000), MGM Grand (7,500), Bellagio (7,500)

Phoenix, AZ
Population (city): 1,488,750
Population (metro area): 4,329,534
Number of MF units: 304,203
MF units added year-over-year: 2,195
Occupancy: 93.1%
Average rent: $765
Median SF home price: $150,000
Unemployment rate: 6.9%
Major employers: State of Arizona (49,800), Wal-Mart (30,600), Banner Health (24,800)

Portland, OR
Population (city): 603,106
Population (metro area): 2,289,800
Number of MF units: 174,316
MF units added year-over-year: 2,243
Occupancy: 97.0%
Average rent: $954
Median SF home price: $299,900
Unemployment rate: 7.5%
Major employers: Intel (16,700), Providence Health System (14,100), Oregon Health & Science University (14,100), US Federal Government (13,900)

Reno, NV
Population (city): 231,027
Population (metro area): 433,843
Number of MF units: 41,391
MF units added year-over-year: 16
Occupancy: 95.2%
Average rent: $772
Median SF home price: $213,000
Unemployment rate: 9.3%
Major employers: Washoe County School District (8,300), University of Nevada – Reno (4,300), Washoe County (2,800), Renown Regional Medical Center (2,800)

Salt Lake City, UT
Population (city): 189,314
Population (metro area): 1,123,712
Number of MF units: 81,512
MF units added year-over-year: 2,154
Occupancy: 95.7%
Average rent: $821
Median SF home price: $137,446
Unemployment rate: 4.3%
Major employers: Ear Nose & Throat Clinic (5,000), University of Utah Health Care (4,500), Discover Financial Services (4,000)

Seattle, WA
Population (city): 634,535
Population (metro area): 3,552,157
Number of MF units: 329,408
MF units added year-over-year: 6,720
Occupancy: 96.4%
Average rent: $1,179
Median SF home price: $406,000
Unemployment rate: 5.7%
Major employers: Boeing (70,000), Microsoft (40,000), University of Washington (25,000)

Spokane, WA
Population (city): 209,525
Population (metro area): 532,253
Occupancy (HZ properties): 97.9%
Average rent (HZ properties): $536
Median SF home price: $146,180
Unemployment rate: 8.1%
Major employers: State of Washington (4,200), Spokane Public Schools (3,000), Providence Sacred Heart Medical Center & Children’s Hospital (3,000), Fairchild Air Force Base (2,900)

Tucson, AZ
Population (city): 524,295
Population (metro area): 992,394
Number of MF units: 73,961
MF units added year-over-year: 751
Occupancy: 91.6%
Average rent: $645
Median SF home price: $150,000
Unemployment rate: 7.2%
Major employers: University of Arizona (10,800), Raytheon Missile Systems (10,300), Davis-Monthan Air Force Base (9,100)

Sources
Population: US Census Bureau, City-Data.com (2012)
Apartment statistics (Units, Occupancy, Rent): MPF Research (Q2 2013)
Median SF home price: Trulia (July-August 2013)
Unemployment rate: US Bureau of Labor Statistics (July 2013)
Major employers: City-Data.com, Livability.com, AustinChamber.com, BVEP.org,  DenverPost.com, NCEDC.com, GPEC.org, Portland Business Journal, City of Reno 2012 Annual Financial Report, About.com, TREOAZ.org