Glossary of Multifamily Marketing Technology

A geographical region with high population density.  As a metric, it is used to identify the real estate market associated with a statistical urban area, and is calculated by the Office of Management and Budget and utilized by Federal agencies including the U.S. Census Bureau.

The geographical area whose value is determined by the proposed development of multifamily rental units within a particularly strong real estate market.

Metric used to measure a particular area surrounding a property site.  The proposed area of analysis is circular, extending anywhere from one to ten miles from the center of the location. The analysis does not consider factors such as mobility, geography or socioeconomic disparity as it may differ from areas outside the analytic parameters.

Metric used to survey the median rent in a given area based on the available types of rental units and a property’s comparability rating to allow property owners and landlords to forecast rent for a particular rental property.  Calculated as Y ≈ f(X, β); x=independent variables, y=dependent variables.