SOURCE: Sunrise Management & Consulting

Sunrise Management & Consulting

November 27, 2009 08:00 ET

Fall 2009 Sunrise Multifamily Rental Market Report Finds Mixed Results Across Northeast Markets

ALBANY, NY--(Marketwire - November 27, 2009) - The Fall 2009 Sunrise Multifamily Rental Market Report© released today by Sunrise Management & Consulting reports mixed results across the Northeast markets, reflecting national trends in the economy and housing markets. The Report finds modest average rental rate growth across the smaller markets with rates decreasing or flat in the more populated markets.

The Fall 2009 Report finds:

--  Mixed results throughout New York State, with only the Capital Region
    reporting steady continued growth with a $15 increase in average rental
--  The larger Northeast markets in Massachusetts, Connecticut and Rhode
    Island overall flat with regional increases being offset by declines in the
    more populated markets.
--  The smaller northeast markets in Vermont, New Hampshire and Maine
    reporting steady growth trends with increases in average rental rates of
    $12 to $14.

"New household creation is the driver in multifamily market growth," said Jesse Holland, president of Sunrise Management & Consulting, "With unemployment up, housing starts down, and more stringent lending requirements, there is not enough new household formation necessary to push growth in rental occupancies and rates."

The Sunrise Multifamily Rental Market Report includes the entire Northeast except New York City. The states surveyed and reported on include Connecticut, Maine, Massachusetts, New Hampshire, New York, Rhode Island and Vermont. The research team at Sunrise & Management & Consulting compiled the information by surveying nearly 1950 apartment communities, representing 340,000 apartment units, and updating the unit mix rental rate database.

The Sunrise biannual survey of rental conditions in the multifamily housing segment details average asking rents by unit mix and by square footage, and tracks historical trends on a county, regional and state basis. A regional summary report is available free of charge, at Sunrise Management & Consulting will prepare customized reports to meet any user's specific needs. Information on customized reports can be obtained by contacting Sunrise at 518-782-0200.

Headquartered in Albany, NY, Sunrise Management & Consulting AMO is an innovative third party property management company providing property management services, market research, and consulting to property owners, investors and home owner associations throughout the Northeastern United States. Sunrise is the creator of the Property Coach™ system for maximizing property investments. For information about Sunrise find us at

Contact Information

  • Media Contact:
    Jesse Holland
    Office: 518-782-0200 x102
    Cell: 518-365-9689
    Email Contact