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Takeaways:
- RealPage launched RealPage Market Analytics.
- Users can evaluate market fundamentals, capital trends, and supply and demand from a metro level, submarket and ZIP code, in more than 300 areas.
- The solution also offers automated visualizations of marketplace shifts, a measure of apartment affordability, and granular data about supply, occupancy and rent changes.
Apartment owners and operators might not always have the access to the market intelligence information they need to maximize their returns. RealPage is attempting to make that easier, though.
The provider of on-demand software and software-enabled services has launched RealPage Market Analytics, a competitive market intelligence platform designed to provide apartment investors, operators and developers with accurate historical and forecasted market data.
Powered by MPF Research and RealPage’s database of 10 million domestic rental units, RealPage Market Analytics will give apartment owners and operators the information they need to maximize their returns, the company said. Users can evaluate market fundamentals, capital trends, and supply and demand from a metro level, submarket and ZIP code, in more than 300 areas.
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“Previously in our industry, measurements of rent growth were far less comprehensive and only provided shifts in asking prices for vacant units being offered to new residents,” said Keith Dunkin, senior vice president of RealPage’s asset optimization solutions.
“The level of transparency into the state of the apartment market takes a giant leap forward with this introduction, particularly since RealPage’s data insights are so vast, accurate and timely.”
Heat maps identify the highest-performing micromarkets on numerous metrics. The solution also offers automated visualizations of marketplace shifts, a measure of apartment affordability, and granular data about supply, occupancy and rent changes.
“In particular, more knowledge about renter households, including their demographic characteristics and patterns of behavior, is an important advancement in the available intelligence,” said Greg Willett, RealPage’s chief economist.
RealPage officially rolled out the solution at its 2015 RealWorld User Conference.
