Although apartment demand has cooled off considerably in the first two months of 2022 compared to recent years, rent growth has picked up momentum again after a brief slowdown in November and December of 2021. Nearly 50 markets around the country have added at least 2% to average effective rent in just January and February.
In the upcoming ALN newsletter, some potential rain clouds for the multifamily industry will be highlighted. In the meantime, here’s a look at the top five markets for average effective rent growth during the opening two months of the year.
For more detailed information on each of the market listed, ALN offers complimentary Market Review reports.
Top 5 Markets
| Market | % Change |
|---|---|
| Fort Myers - Naples, FL | 6.1% |
| Melbourne, FL | 3.9% |
| Palm Beach, FL | 3.8% |
| Savannah, GA | 3.7% |
| Fort Lauderdale, FL | 3.7% |
Top 5 Markets – ALN Tier One Markets
| Market | % Change |
|---|---|
| FL - Tampa | 3.0% |
| CA - San Diego | 2.7% |
| FL - Orlando | 2.6% |
| TN - Nashville | 2.6% |
| OH - Cincinnati/Dayton | 2.3% |
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