Overview of Explore Pro

Explore Pro is ApartmentIQ’s all-in-one real-time market research platform built specifically for multifamily professionals. Designed for Owners, Investors, Asset Managers, Developers, and Client Services teams, Explore Pro combines daily, unit-level rent and performance data with comprehensive critical datasets – from demographics and supply pipelines to transactions and ownership details.

By unifying these insights in a single platform, Explore Pro provides a 60-day advantage over lagging, static tools, helping teams make faster, smarter, and more confident decisions.

Who’s It For

Explore Pro is designed for multifamily professionals who need actionable market insights and streamlined workflows:

• Acquisitions & Investment Teams (including Analysts): Underwrite deals with precision using five years of verified historical trends and unit-level comps. Compare rent rolls, define custom markets, and track ownership, sales, and pipeline data.
   
• Developers: Prototype new properties, analyze ideal unit mixes, evaluate local demographics, and anticipate supply absorption before breaking ground.
   
• Asset Management: Benchmark portfolio performance and identify market risks before they impact NOI. Track market trends and generate executive-ready reports.
   
• Brokers, Client Services & Sales Teams: Quickly build target lists with true owner and management information for every property. Develop client strategies and share transparent, real-time market insights.
   
• Operations & Revenue Management: Set optimal pricing, benchmark units, and understand market-level trends in real time.
   
• Executives & Strategic Leadership: Steer company-wide strategy with a trusted, nationwide view of supply, forecasts, and entry/exit signals.
   

Key Features

• Interactive Mapping & Custom Boundaries: Draw your own markets or trade areas to evaluate pockets that standard market definitions miss.
   
• Real-Time Performance Data: Access daily unit-level rents, occupancy, availability, and historical trends back to 2020.
   
• Instant, Transparent Rent Comps: Build comps with full rent rolls and 100+ performance metrics to pressure-test assumptions.
   
• New Supply Insights: Track construction pipelines by stage with quarterly visualizations to plan absorption and leasing timing.
   
• Ownership, Transactions & Sales Data: See who owns what, access recent transaction history, and perform instant market comparisons. (Explore Pro+ Only)
   
• Demographics & Forecasts: Review local renter profiles and deep-learning rent forecasts to detect market shifts earlier than lagging sources.
   
• Fast Exports: Generate executive-ready reports, charts, and property lists for underwriting, stakeholder updates, or client presentations.

Benefits

• 60-Day Advantage: Bypass the learning curve and gain an immediate 60-day advantage over the market by replacing lagging legacy tools with real-time intelligence.
   
• Faster, Smarter Decision-Making: Real-time data and integrated datasets reduce reliance on fragmented tools and outdated reports.
   
• Comprehensive Market Visibility: Gain a full view of performance, supply, ownership, and demographics across any property or custom area.
   
• Better Underwriting & Benchmarking: Transparent comps and 5-year historicals allow teams to identify opportunities and identify risk early.
   
• Streamlined Workflows: Automate the heavy lifting of data verification and simplify reporting with export-ready insights.
   
• Strategic Advantage: Monitor trends, forecast growth, and plan developments ahead of the market to maintain a competitive edge.
   
• User-Friendly Experience: A modern interface and intuitive navigation make adoption quick and painless across the entire organization.

How it Works

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

Additionally, you can apply filters as needed. The ApartmentIQ Explore feature will allow you to filter data by year built, total units, property class, property type, property status and more. 
 

When you click on “All Filters” you will get even more! Property Status filters makes it easier to narrow down by filtering out non-stabilized units, while also opening the ability to look at lease up performance or new properties in the specified area.

Included in our Property Status filter is the following:

• In Planning: The project has obtained necessary building permits and entitlements from local authorities, allowing construction to begin legally. At this stage, the property is approved but ground has not yet been broken. It represents early pipeline supply that may or may not proceed promptly.
   
• Scheduled Construction: The project is planned and scheduled to start construction soon, with financing, contractors, and timelines in place, but active building work has not yet commenced. This is a pre-construction planning stage where the project is committed but not yet underway.
   
• Under Construction: Active vertical construction is ongoing. Ground has been broken, and the building is being erected. Units are not yet complete or available for occupancy, but the project is contributing to near-term future supply.
   
• Lease Up: Construction is complete (or substantially complete), and the property is actively marketing and leasing units to reach full occupancy. This phase starts with a certificate of occupancy and focuses on filling units, often with incentives. It typically lasts 6–18 months depending on market conditions and project size, until reaching stabilized occupancy levels.
   
• Stabilized: The property has achieved consistent high occupancy (typically 90–95% or higher, often sustained for a period like 3 months) and steady operational performance. Net operating income is reliable, qualifying for permanent financing, and the asset is considered mature with normalized rent growth and low vacancy.
   

Market Summary

Overview

You will find our Overview section gives a wide overview of data. This information is all combined in a graph showing the absorption, deliveries, and the occupancy. Hover over the metrics to get the exact definition of each. Click on “Show Table” to export the data in either Excel or CSV.

The submarket performance table provides a clear, side-by-side snapshot of the top 30 submarkets in a given metro, highlighting key rent and leasing metrics. It allows you to quickly identify where rents are growing or declining, and review supply and demand dynamics across the region. 

Additionally, you will quickly see where concessions are highest, signaling potential softness, providing insights into future expectations for each area. 

Essentially, this table serves as a quick, comprehensive health check, letting you compare current performance and projected trends across all major submarkets. By directly clicking on the submarket, you;ll be able to view it in greater detail. 

Rent 

This section gives you rent performance in the area you're researching. You’ll see metrics like recent growth %, NER, concession and several Year-over-Year (YoY) Rent Growth charts, including overall YoY, YoY by Bed, and YoY by Class. In the YoY Rent Growth chart, you can switch the table to Rent $ to view actual rents and quarterly rent growth. Each graph includes a five-year forecast powered by a deep learning model updated daily and backtested for accuracy. 

Unlike traditional quarterly surveys, ApartmentIQ tracks daily pricing on 37M+ units and incorporates key drivers like new supply, employment, income, and population shifts. This richer data allows the model to detect rent shifts earlier and with greater precision; helping you make smarter decisions for underwriting, pricing strategy, and acquisitions.

You can also compare our forecasts to other providers using the interactive map. Because we start with real-time data and detailed supply insights, our projections often identify market changes—such as early rent declines or rebounds—months before lagged data sources.

Our forecasting goes to the next level to see how the property reacts in the downside and upside percentile, which is helpful for calculating risks and changes forecasting based on positive or negative economic conditions. 

Forecasting is available for exporting as an Excel (XLSX) file or CSV file. 

If you would like to learn more about Forecasting click here.

Next, you will find a 30 day market snapshot, which will include 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.

Occupancy 

The occupancy charts provide a comprehensive view of occupancy trends over time. 

The first chart compares the occupancy rate of a specific area since January 2022 with the ability to select scenario-based forecasting.

The second chart breaks down occupancy percentages by property class, showing trends for Class A, Class B, and Class C properties over the same period. 

Together, these visuals offer insights into both regional performance and class-specific dynamics within the market.
Occupancy Rate and Occupancy by Class is available for exporting as an Excel (XLSX) file or CSV file. 
 

The absorption section shows the number of units that became physically occupied over a specific period and net new units delivered. It reveals if demand is outpacing new units(deliveries), which can help in understanding occupancy and rent growth.

Absorption vs. Deliveries is available for exporting as an Excel (XLSX) file or CSV file. 

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 
• Estimated delivery date
• Details for each property (hover-over)
• Past data in the last 10 years 
• Forecasting for new supply up to 2 years

Under Construction- Units in buildings that are currently undergoing construction

Deliveries (12M)- Units in buildings that were delivered in the last twelve months

Units in Lease Up-Units in buildings that are currently in lease ups

You can also see individual properties on the map or the name of the property in the New Supply Units, and click them for more information about the project, with details coming from sources mentioned above.

Tracking new developments within a targeted area provides Operators, Investors, and Asset Managers with insight into upcoming supply and competitive pressures in a market. Understanding the size, timing, and details of new projects helps inform pricing strategy, leasing forecasts, investment decisions, and long-term planning by anticipating how additional units may impact occupancy, rents, and overall market dynamics.
 

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 statistics. 

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. 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. 

Understanding the market's renter profile is crucial for understanding demand influencers and drivers. This data helps you to assess target renter profiles, forecast occupancy and rent growth, and make informed decisions on marketing, unit mix, and investment opportunities based on the characteristics of the surrounding community.
 

Exporting

Now, you can export all data found in Market Summary as a PDF. This will generate reports automatically for all data found in Market Summary. 

Map 

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. You can also click on “New Report” to create a research report of the property. 
 

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

Alternatively, draw your own outline to zoom in on a new boundary. When you make a new boundary the information shown in the above sections will change to show the metrics for the custom boundary. 
 

With one click, you can see unit counts, rent rolls, performance data, and even generate a full research report - no extra searching required. Whether you’re scanning a new market or drawing your own custom boundaries, it delivers fast, accurate insights exactly where you need them.

Using the Properties Section in Explore Pro & Explore Pro+

Here in the Property Details Page, you can dive directly from high-level market insights into individual asset performance, and all updated daily from verified property websites. You’ll see a list of properties that make up the area or market segment you’re analyzing, complete with images and key details. Use filters like property type, class, and unit count to quickly narrow in on exactly what you’re looking for. Once you find a relevant property, click into it for a deeper look at performance metrics and competitive positioning. This gives you everything you need to explore, compare, and make informed decisions in Explore Pro.
 

To learn more about the Property Details Page, please review this article.

Market Comparison

Our last feature in Explore Pro is Market Comparison. This is a way for you to be able to create functionally tables of markets that will compare against each other. And so you can start to filter and use some more advanced logic to understand how different markets are comparing sub markets. 

If you have a set of target markets that you're focused on that you want to monitor, you can always come in and you can set up filtering and you can also filter by property attributes. 
 

Explore Pro+

With your Explore Pro+ license, you will have access to all of the information discussed in the previous section. In addition to these metrics, you will also have access to:

Sales

The Sales section shows up to the last 10 years of data for Sale Price per Unit, Market Cap Rate, and Sales Volume by Quarter. This information is collected with Real Capital Analytics. 

This data, collected from Real Capital Analytics, helps Investors and Analysts understand market pricing, risk, and liquidity over time, making it a valuable tool for evaluating investment opportunities, benchmarking performance, and identifying trends in property sales.
 

You can now filter by transaction data under the “All Filters”. This includes cap rate, transaction date and sales price per unit. These filters narrow results to a specific subject property comparable, helping teams form/prove valuation or investment assumptions.
 

Explore Pro & Explore Pro+ FAQ’s

For answers to our most common Explore questions, please review our article FAQ: Explore & Research.

Please Note

Should you be interested in the Explore Pro or Explore Pro+ feature, please contact your CSM or our Support Team for more information.