News
CLASS MATTERS
March 29, 2011
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| ?This is an A-B conversation, so C your way out!? Ever try this line on an eavesdropper? Reis analyst Brad Doremus says if you're talkingBaltimore apartments, you?ve been using the wrong phrase. In this town, it's a B/C conversation, with A as the odd man out. In the Baltimore apartment market, Class-B/C apartment rents were up 1.4% relative to the 0.6% uptick in Class-A rents in Q4 2010. Class-A properties were the winners in Q3, with rents rising 1.7% versus a 1.3% climb for class B/C rents. But over longer time periods, Class-B/C rent growth has stood out (up 2.47% in Q4 versus 1.86% for their counterparts). Lower-quality rent growth has been even strongerover the past two- and three-year periods, outpacing growth in higher-quality apartments by 113 and 103 bps, respectively. |
