Limited building has helped boost Detroit’s apartment performance metrics. Detroit’s 2.3% inventory this cycle – which translates to about 6,800 units built since 2010 – is the lowest across the top 50 U.S. markets. While apartment demand there hasn’t been stellar, it’s been enough to give Detroit occupancy rates and rent growth levels above the national norm over the past few years. As of mid-2018, occupancy stood at 96.5%, and annual rent growth landed at 3.0%.
Adam Couch is a Market Analyst for RealPage, Inc. He is the co-host of RealPage’s weekly market webcasts that feature analysis and insights on macro and micro level trends shaping national and local apartment performance. Adam also has been a featured speaker at several multifamily housing industry conferences and regularly provides commentary for national and local business media. Prior to joining Realpage, Adam worked in the foreign exchange and futures industry where he focused specifically in capital markets.
He received his bachelor’s degree in finance from the University of North Texas. Adam was also a part of the Student Investment Group and travelled extensively throughout China, where he studied international policy and its impact on macroeconomics.
