Average effective rent growth for new leases has shown strong improvement over the last year. After peaking out a modest 0.9% gain in the previous twelve-month period, the national average effective rent has grown by 3.5% over the last twelve months. Below the national average, some important distinctions have emerged. All numbers will refer to…
This year’s opening quarter included multiple interesting developments that will have ramifications for multifamily performance as 2025 unfolds. Outside the industry, in just the first few days of April, seismic U.S. trade policy changes are just beginning to make their early impact felt. As has been the case for the last handful of years, there…
A more detailed analysis of multifamily performance in the first quarter will be the subject of the forthcoming ALN newsletter for April. In broad strokes, new supply continued its surge, apartment demand cooled, and rent growth picked up. One area below the national level in which some clear differences emerged was price class performance. All…
2024 was a key step in the right direction for the multifamily industry. In the face of historic new supply pressure, the decline in national average occupancy was smaller than in 2022 or 2023. Net absorption showed robust annual improvement for a second straight year. Average effective rent growth for new leases more than doubled…
Despite remaining challenges, the third quarter featured some reasons for encouragement in the industry performance data.
Multifamily performance trends stabilized last year after volatility from 2020 to 2022, and 2024 has largely followed expected trajectories.
With spring quickly approaching, the typically softer portion of the calendar is coming to an end for the multifamily industry.
Persistently low demand and a very active construction pipeline have combined to send national average occupancy to its pre-pandemic level.
Even with continued difficulties for new construction, more than 100,000 new units were delivered across the US through April.
