Wanting to research new or current markets and submarkets by zip code or city? Enter the Explore feature in ApartmentIQ.

In this article, we will discuss the following:

• Overview of Explore
• Who It's For
• Benefits 
• How the Explore Report Works
• Research Reports in Explore
• New Supply Data in Explore

Overview of Explore

The ApartmentIQ Explore feature will allow you and your team to look into current, or potential markets and submarkets by MSA, County, Zip Code, Neighborhood, or exact address, enabling you to better understand the current performance of that market of interest. 

Who It's For

Analysts/Investments/Acquisition teams: Rent growth and historical trends are key inputs when evaluating potential investment opportunities. You are now able to use ApartmentIQ to explore new markets instead of only being able to use comp data.

Revenue teams: View macro trends, allowing you to compare against your direct comps, but also against the market as a whole.

Benefits

More Value: The explore page opens up new ways to use ApartmentIQ. Instead of only being able to view local comps, you are now able to get key performance data for new markets. This can be especially helpful for Analysts and Investment teams. 

Macro changes: You can now benchmark your property to a market or submarket, or even just get a pulse on broader market performance and changes.

Forecast Future Demand: Demographic data and new supply data help you understand what the market looks like now, and what it might look like in the future. This helps you adjust your property or portfolio strategy to meet the market where it will be.

How It Works

To get started, search by MSA, Submarket, County, Zip Code, Neighborhood, or exact address. 

At any time filter properties by year built, units, class, type, or more by click “All Filters”. All Filters include property status, management company, occupancy, and more. 

Overview 

The first section will give you a quick overview of rent growth, occupancy, absorption and deliveries. 

Rent 

Next you will find the Rent Section. In this section there will be a 30 day market snapshot, including key performance metrics such as a total number of properties in the area, Asking Rents, Net Effective Rents, Asking and Net Effective Price Per Sq/Ft, and Average Days and more.

Additionally, your team will be able to view up to 5 years of historical data for the area you are looking into, allowing you to view trends with ease. 

Occupancy 

The occupancy section will give you a quick overview of the occupancy in the area. 

Additionally, you will be able to use the map feature to view your market or submarket of interest, allowing you to research potential properties of interest for acquisition purposes or during the underwriting process. 

Supply 

Leverage ApartmentIQ’s construction data to keep up with supply shifts, competitive pressure, pricing changes, investments, and leasing strategies. ApartmentIQ’s construction data is provided in real-time, and sourced from public records, building permits, government databases, and news publications.

What Is Included

• Location of new supply properties
• Stage of construction
• Number of units
• Property type (e.g. conventional or affordable)
• Estimated delivery date
• Whether the construction is new or a renovation
• Details for each property (hover-over)

You can also see the individual properties on the map and click on “View Details” for the Property Details Page for more information about the project, with details coming from public records, building permits, and government databases.

Demographics

Review population, median income, the employed labor force, age and household information within the demographics feature. Additionally, you will be able to dive into demographic details including population, education, income, and employment. 

Map

Simply click on a property of interest to view their total unit count, website, and rent roll, allowing you to get a detailed understanding of current performance in the market. When you click on “View Details” you will get the Property Details Page for that property. 

Should you need to review a new market or submarket of interest, simply click the area on the map to refresh the data. 

Alternatively, draw your own outline to zoom in on a submarket of interest .

Research Reports in Explore

When investigating or browsing markets or submarkets in the Explore feature, you can also create a Research Report right from the property card, allowing you to analyze a target property in one click. 

Explore FAQ’s

See our FAQ: Explore & Research to answer any questions you may have

If you have any questions related to this feature, please contact our Support Team.