More Markets Show Moderating Rent Growth
National average effective rent growth has continued its tear so far this year, but July did provide some change at the market level.
National average effective rent growth has continued its tear so far this year, but July did provide some change at the market level.
Shifting market conditions for the multifamily industry can be clearly seen in how stabilized properties have fared so far this year.
Apartment demand has softened considerably for the Houston market compared to last year, but strong rent growth has persisted so far.
National monthly average effective rent growth was above 1% again in May, but cracks in momentum may be emerging.
One of the markets in which apartment demand has been resilient so far this year relative to the national cool down has been Orlando.
Strong rent growth continued in March at the national level, but so did a more recently developed trend – declining apartment demand.
One of the leaders in rent growth over the last year has been the Tampa market, and it appears those gains are beginning to pressure demand.
Apartment demand has slowed this year, but rent growth momentum has continued. Here are the top five markets for rent growth so far in 2022.
Apartment demand dipped in January, but rent growth continued at a pace well outside the range established over the last five years.