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 place, 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 place, MSA, County, Zip Code, Neighborhood, or exact address. 

Additionally, apply filters as needed. The ApartmentIQ Explore feature will allow you to filter data by year built, total unit count, Management Company, story count, construction type, and amenities. 

Rent & Performance

In the first report you will find 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, Exposure %, Leased %, and Average Days on Market information.

Additionally, your team will be able to view up to 4 years of historical data for the market or submarket, allowing you to view trends with ease. 

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. 

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. 

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 .

New Supply Data 

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 them 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. 
 

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, New Supply, and Demographic FAQ’s

What sources does ApartmentIQ use to collect data on new supply?

Data is sourced from public records, building permits, government databases, and news publications. 

How often is new supply data updated?

 ApartmentIQ looks at new supply data daily. Most data is updated daily, while some is updated weekly, ensuring your access to the most recent data. 

Do new projects turn into subject or competitive properties that I can track in the ApartmentIQ My Properties and/or Research feature when completed?

Yes! Properties will transition from “under construction” to "existing" as they become operational lease-ups. 

What are the sources of the demographic data?

ApartmentIQ sources demographic data from a combination of US Census, ACS (American Community Survey), and the Bureau of Labor Statistics, and data provided by various federal agencies.

How often is demographic data updated?

Data is updated every 6 months. This is in-line with industry leaders, as the decennial census is done every 10 years, and the American Community Survey (ACS), is done every one year. 

Where is the 2024 demographic data?

The data currently includes information up to the end of 2023. We are actively working to add 2024 data, which will be available soon. 

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