South Jersey_Multifamily

Posted

Just received the 2nd QTR REIS Report. Strange I enjoy reading it. The overall avg. rent over the greater Philly Metroplex was $1,259.00 up 1.2% from the first Qtr. The downside avg. Vacancy is at 3.9% and expected to finish out at 4.3%.

Now if you ever read a REIS report, I do not think they will allow a blog post that big, so I am going to just highlight Burlington and Camden County

Burl. County NJ. 140 units under construction with another 1107 in the planned or proposed section. Currently 5540 units and the avg rental $1058, with the Moorestown/Maple Shade market $1172.00. Vacancy %5.6, Free rent is avg. is .16% and expense %49.4

Camden County NJ. 133 completed units, 1,191 units under construction, with a planned/proposed 1719 units. The county has 5,345 units. The avg rent $1,099,with Cherry Hill/Evesham $1,351. Vacancy %2.7 & 4.1% for the Cherry Hill/Evesham market. Free Rent % .34 and .68% Cherry Hill/Evesham Market. Expense % 51.5% and 48.8% for Cherry Hill/Evesham.


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