Grant Brissey
November 7, 2024
2 Minute Read
As new construction fuels rental inventory growth in markets across the U.S., multifamily professionals face increasing competition for residents. Moody’s Advanced Market Reports, which are part of Zillow’s new Signature package for multifamily partners, are now here to help.
The data and analysis in these reports can help you anticipate market shifts and gain a competitive edge through advanced forecasts and rent trends. You’ll be equipped to make informed, data-driven decisions to enhance listings, attract more renters, and stay ahead of market trends.
“The reports provide the level of detail that means we can make decisions quickly,” says Brent Camp, Vice President of Asset Living. “We can make long-term strategy and short-term strategy decisions for our communities. It's valuable really to everybody within our organization, even down to the on-site level.”
Here we’ll focus on a specific aspect of the reports: optimizing marketing messaging and positioning strategies with demographic insights. Looking at a few example use cases, we’ll detail ways you could use these metrics in your marketing efforts.
Find employment trends in the Employment and Population Change section of your submarket report.
Example Use Case: Your report shows an uptick in employment in a market where you manage or market properties.
Using Bureau of Labor Statistics data, you check local employment by industry in your area. By looking at growth in specific industries, you determine that much of the hiring is in the tech industry.
You may decide to market properties by highlighting features that appeal to tech workers, such as high-speed internet, proximity to tech hubs, and modern work-from-home amenities. Then you concentrate ad spend on channels that perform well with a tech audience.
Metrics: Sub-Market Total Employment, Regional Total Employment
Example Use Case: The report for your submarket shows an uptick in competitor concessions, as well as a downward trend in effective rent, and occupancy rates for your properties are beginning to soften.
You may decide to reassess your incentive and discount strategy, or even rethink asking rents. Or you could retool your ad campaigns to focus on amenities that provide value — like in-unit washers and dryers, energy-efficient appliances, and fitness centers.
Metrics: Asking Rent, Concessions, Effective Rent
Example Use Case: Your report shows a projected surge in household formation.
Using a survey service, you run hyperlocal surveys to explore the demographics of household formation. Is it a surge of sole-person households or families? Is there recent demand for single-family rentals or are both effective and asking rents for luxury one-and-two bedrooms up?
Depending on what the research uncovers, you may choose to highlight different characteristics of the building’s area. Sole-person household demand may respond to proximity to nightlife or recreational options, whereas single-family rental demand may mean nearby parks and playgrounds or community centers are an appeal to potential renters.
Metric: Household Formations
As builders race to fill the 4.5 million home shortage, many markets will continue to see surges in supply, Moody's Advanced Market Report can enhance property management strategies by providing detailed insights into market trends, renter demographics, and economic outlooks. This data-driven approach helps property managers optimize marketing efforts and pricing strategies, ensuring properties stand out in competitive markets.
Want to see what else you can do with Moody’s Advanced Market Reports? Learn more about the Signature package.
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