Midwest Apartment Demand Isn’t Dropping Anytime Soon, Says JVM Realty CEO

Apartment rents in Detroit are now the fastest rising in the United States among the nation’s largest cities, growing at an annual rate of 5.3 percent as of May 2018, according to Yardi Matrix and RENTCafé. Across the Midwest, the apartment market remains very strong with high demand and therefore increasing rents.

Jay Madary, president and CEO of Oak Brook, Ill.-based JVM Realty, spoke with REBusinessOnline to discuss the state of the market, including the pace of investment sales. JVM owns and operates Class A and B apartment communities in Midwest markets such as Cleveland, Indianapolis, Kansas City and suburban Chicago.

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RSK: We will see how long it lasts...hard to stop a freight train but once it slows down and stops...takes a load of energy to have the inertia overcome and start it moving again..



- - Volume: 6 - WEEK: 25 Date: 6/19/2018 8:13:51 AM -