Atlanta 3Q 2024 Market Report
Research Multifamily Market Reports Atlanta 3Q 2024 MARKET SNAPSHOT Atlanta 3Q 2024 AVERAGE RENT $1,615 3Q 2024 OCCUPANCY RATE 90.5% 3Q 2024 QUARTERLY NET DEMAND 6,203 [YTD: 16,900] YoY RENT CHANGE -2.1% 3Q 2024 YoY OCCUPANCY CHANGE -20 BASIS POINTS QUARTERLY COMPLETIONS 5,754 [YTD: 20,425] KEY TAKEAWAYS Demand has returned to Atlanta’s multifamily market, but […]
Austin 3Q 2024 Market Report
Research Multifamily Market Reports Austin 3Q 2024 MARKET SNAPSHOT Austin 3Q 2024 AVERAGE RENT $1,570 3Q 2024 OCCUPANCY RATE 91.0% 3Q 2024 QUARTERLY NET DEMAND 6,843 [YTD: 17,128] YoY RENT CHANGE -5.4% 3Q 2024 YoY OCCUPANCY CHANGE -70 BASIS POINTS QUARTERLY COMPLETIONS 10,033 [YTD: 26,730] KEY TAKEAWAYS Supply continues to outpace demand, but absorption levels […]
Birmingham 3Q 2024 Market Report
Research Multifamily Market Reports Birmingham 3Q 2024 MARKET SNAPSHOT Birmingham 3Q 2024 AVERAGE RENT $1,224 3Q 2024 OCCUPANCY RATE 89.9% 3Q 2024 QUARTERLY NET DEMAND 298 [YTD: 870] YoY RENT CHANGE 0.3% 3Q 2024 YoY OCCUPANCY CHANGE 0 BASIS POINTS QUARTERLY COMPLETIONS 277 [YTD: 977] KEY TAKEAWAYS Rental demand is rising but still lags behind […]
Boston 3Q 2024 Market Report
Research Multifamily Market Reports Boston 3Q 2024 MARKET SNAPSHOT Boston 3Q 2024 AVERAGE RENT $2,869 3Q 2024 OCCUPANCY RATE 96.2% 3Q 2024 QUARTERLY NET DEMAND 2,630 [YTD: 6,875] YoY RENT CHANGE 3.0% 3Q 2024 YoY OCCUPANCY CHANGE +20 BASIS POINTS QUARTERLY COMPLETIONS 1,445 [YTD: 5,218] KEY TAKEAWAYS Demand in Boston has been on the rise, […]
Charleston 3Q 2024 Market Report
Research Multifamily Market Reports Charleston 3Q 2024 MARKET SNAPSHOT Charleston 3Q 2024 AVERAGE RENT $1,791 3Q 2024 OCCUPANCY RATE 93.2% 3Q 2024 QUARTERLY NET DEMAND 1,354 [YTD: 3,613] YoY RENT CHANGE 0.7% 3Q 2024 YoY OCCUPANCY CHANGE 0 BASIS POINTS QUARTERLY COMPLETIONS 2,017 [YTD: 4,576] KEY TAKEAWAYS Year-to-date, the Charleston apartment market has displayed solid […]
Charlotte 3Q 2024 Market Report
Research Multifamily Market Reports Charlotte 3Q 2024 MARKET SNAPSHOT Charlotte 3Q 2024 AVERAGE RENT $1,592 3Q 2024 OCCUPANCY RATE 91.6% 3Q 2024 QUARTERLY NET DEMAND 3,883 [YTD: 9,456] YoY RENT CHANGE -1.5% 3Q 2024 YoY OCCUPANCY CHANGE -80 BASIS POINTS QUARTERLY COMPLETIONS 3,637 [YTD: 11,673] KEY TAKEAWAYS Charlotte’s average occupancy rate has contracted slightly due […]
Chicago 3Q 2024 Market Report
Research Multifamily Market Reports Chicago 3Q 2024 MARKET SNAPSHOT Chicago 3Q 2024 AVERAGE RENT $1,782 3Q 2024 OCCUPANCY RATE 95.5% 3Q 2024 QUARTERLY NET DEMAND 2,849 [YTD: 8,606] YoY RENT CHANGE 2.5% 3Q 2024 YoY OCCUPANCY CHANGE +40 BASIS POINTS QUARTERLY COMPLETIONS 1,379 [YTD: 7,575] KEY TAKEAWAYS In the first half of 2024, Chicago’s rental […]
Cincinnati 3Q 2024 Market Report
Research Multifamily Market Reports Cincinnati 3Q 2024 MARKET SNAPSHOT Cincinnati 3Q 2024 AVERAGE RENT $1,273 3Q 2024 OCCUPANCY RATE 94.6% 3Q 2024 QUARTERLY NET DEMAND 1,114 [YTD: 2,788] YoY RENT CHANGE 2.8% 3Q 2024 YoY OCCUPANCY CHANGE -20 BASIS POINTS QUARTERLY COMPLETIONS 848 [YTD: 2,951] KEY TAKEAWAYS Net absorption increased by 41% year-over-year, outpacing deliveries […]
Cleveland 3Q 2024 Market Report
Research Multifamily Market Reports Cleveland 3Q 2024 MARKET SNAPSHOT Cleveland 3Q 2024 AVERAGE RENT $1,199 3Q 2024 OCCUPANCY RATE 92.5% 3Q 2024 QUARTERLY NET DEMAND 301 [YTD: 1,315] YoY RENT CHANGE 3.6% 3Q 2024 YoY OCCUPANCY CHANGE -40 BASIS POINTS QUARTERLY COMPLETIONS 656 [YTD: 1,490] KEY TAKEAWAYS Cleveland’s multifamily market led the nation in rent […]
Omaha 3Q 2024 Market Report
Research Multifamily Market Reports Omaha 3Q 2024 MARKET SNAPSHOT Omaha 3Q 2024 AVERAGE RENT $1,217 3Q 2024 OCCUPANCY RATE 95.1% 3Q 2024 QUARTERLY NET DEMAND 435 [YTD: 1,781] YoY RENT CHANGE 3.5% 3Q 2024 YoY OCCUPANCY CHANGE -10 BASIS POINTS QUARTERLY COMPLETIONS 428 [YTD: 1,389] KEY TAKEAWAYS Rental demand remains strong in Omaha, largely driven […]
Columbus 3Q 2024 Market Report
Research Multifamily Market Reports Columbus 3Q 2024 MARKET SNAPSHOT Columbus 3Q 2024 AVERAGE RENT $1,309 3Q 2024 OCCUPANCY RATE 93.6% 3Q 2024 QUARTERLY NET DEMAND 1,624 [YTD: 4,699] YoY RENT CHANGE 2.8% 3Q 2024 YoY OCCUPANCY CHANGE -10 BASIS POINTS QUARTERLY COMPLETIONS 1,852 [YTD: 4,629] KEY TAKEAWAYS Approximately 4,700 multifamily units were absorbed on a […]
Dallas-Fort Worth 3Q 2024 Market Report
Research Multifamily Market Reports Dallas-Fort Worth 3Q 2024 MARKET SNAPSHOT Dallas-Fort Worth 3Q 2024 AVERAGE RENT $1,531 3Q 2024 OCCUPANCY RATE 91.7% 3Q 2024 QUARTERLY NET DEMAND 8,791 [YTD: 23,173] YoY RENT CHANGE -1.5% 3Q 2024 YoY OCCUPANCY CHANGE -60 BASIS POINTS QUARTERLY COMPLETIONS 8,994 [YTD: 30,786] KEY TAKEAWAYS While the overall market saw a […]
Denver 3Q 2024 Market Report
Research Multifamily Market Reports Denver 3Q 2024 MARKET SNAPSHOT Denver 3Q 2024 AVERAGE RENT $1,848 3Q 2024 OCCUPANCY RATE 93.3% 3Q 2024 QUARTERLY NET DEMAND 3,799 [YTD: 9,080] YoY RENT CHANGE -1.1% 3Q 2024 YoY OCCUPANCY CHANGE -60 BASIS POINTS QUARTERLY COMPLETIONS 5,440 [YTD: 14,802] KEY TAKEAWAYS The Denver rental market is experiencing continued effects […]
Des Moines 3Q 2024 Market Report
Research Multifamily Market Reports Des Moines 3Q 2024 MARKET SNAPSHOT Des Moines 3Q 2024 AVERAGE RENT $1,140 3Q 2024 OCCUPANCY RATE 94.0% 3Q 2024 QUARTERLY NET DEMAND 569 [YTD: 809] YoY RENT CHANGE 1.9% 3Q 2024 YoY OCCUPANCY CHANGE -20 BASIS POINTS QUARTERLY COMPLETIONS 757 [YTD: 1,475] KEY TAKEAWAYS Following relatively subdued net absorption in […]
El Paso 3Q 2024 Market Report
Research Multifamily Market Reports El Paso 3Q 2024 MARKET SNAPSHOT El Paso 3Q 2024 AVERAGE RENT $1,065 3Q 2024 OCCUPANCY RATE 95.4% 3Q 2024 QUARTERLY NET DEMAND 42 [YTD: 545] YoY RENT CHANGE 2.4% 3Q 2024 YoY OCCUPANCY CHANGE 0 BASIS POINTS QUARTERLY COMPLETIONS 0 [YTD: 286] KEY TAKEAWAYS Rental demand in El Paso is […]
Florida Panhandle 3Q 2024 Market Report
Research Multifamily Market Reports Florida Panhandle 3Q 2024 MARKET SNAPSHOT Florida Panhandle 3Q 2024 AVERAGE RENT $1,612 3Q 2024 OCCUPANCY RATE 92.2% 3Q 2024 QUARTERLY NET DEMAND 798 [YTD: 2,644] YoY RENT CHANGE 0.6% 3Q 2024 YoY OCCUPANCY CHANGE -10 BASIS POINTS QUARTERLY COMPLETIONS 1,179 [YTD: 3,305] KEY TAKEAWAYS The Florida Panhandle multifamily market is […]
Houston 3Q 2024 Market Report
Research Multifamily Market Reports Houston 3Q 2024 MARKET SNAPSHOT Houston 3Q 2024 AVERAGE RENT $1,352 3Q 2024 OCCUPANCY RATE 90.8% 3Q 2024 QUARTERLY NET DEMAND 6,572 [YTD: 17,710] YoY RENT CHANGE 0.7% 3Q 2024 YoY OCCUPANCY CHANGE -30 BASIS POINTS QUARTERLY COMPLETIONS 3,419 [YTD: 17,626] KEY TAKEAWAYS Demand has exceeded new completions for the past […]
Indianapolis 3Q 2024 Market Report
Research Multifamily Market Reports Indianapolis 3Q 2024 MARKET SNAPSHOT Indianapolis 3Q 2024 AVERAGE RENT $1,285 3Q 2024 OCCUPANCY RATE 92.7% 3Q 2024 QUARTERLY NET DEMAND 1,186 [YTD: 4,202] YoY RENT CHANGE 2.3% 3Q 2024 YoY OCCUPANCY CHANGE +40 BASIS POINTS QUARTERLY COMPLETIONS 1,141 [YTD: 4,800] KEY TAKEAWAYS While the national average rental rate increased by […]
Jacksonville 3Q 2024 Market Report
Research Multifamily Market Reports Jacksonville 3Q 2024 MARKET SNAPSHOT Jacksonville 3Q 2024 AVERAGE RENT $1,485 3Q 2024 OCCUPANCY RATE 90.4% 3Q 2024 QUARTERLY NET DEMAND 2,063 [YTD: 5,638] YoY RENT CHANGE -2.3% 3Q 2024 YoY OCCUPANCY CHANGE -70 BASIS POINTS QUARTERLY COMPLETIONS 1,969 [YTD: 6,658] KEY TAKEAWAYS Despite a historic supply wave, Jacksonville’s rental market […]
Kansas City 3Q 2024 Market Report
Research Multifamily Market Reports Kansas City 3Q 2024 MARKET SNAPSHOT Kansas City 3Q 2024 AVERAGE RENT $1,316 3Q 2024 OCCUPANCY RATE 93.5% 3Q 2024 QUARTERLY NET DEMAND 1,635 [YTD: 4,580] YoY RENT CHANGE 3.3% 3Q 2024 YoY OCCUPANCY CHANGE +10 BASIS POINTS QUARTERLY COMPLETIONS 1,210 [YTD: 2,974] KEY TAKEAWAYS Net absorption in the Kansas City […]
Little Rock 3Q 2024 Market Report
Research Multifamily Market Reports Little Rock 3Q 2024 MARKET SNAPSHOT Little Rock 3Q 2024 AVERAGE RENT $1,007 3Q 2024 OCCUPANCY RATE 90.6% 3Q 2024 QUARTERLY NET DEMAND 238 [YTD: 590] YoY RENT CHANGE 1.4% 3Q 2024 YoY OCCUPANCY CHANGE -10 BASIS POINTS QUARTERLY COMPLETIONS 358 [YTD: 923] KEY TAKEAWAYS Although net absorption remains below historical […]
Louisville 3Q 2024 Market Report
Research Multifamily Market Reports Louisville 3Q 2024 MARKET SNAPSHOT Louisville 3Q 2024 AVERAGE RENT $1,196 3Q 2024 OCCUPANCY RATE 94.5% 3Q 2024 QUARTERLY NET DEMAND 1,015 [YTD: 2,355] YoY RENT CHANGE 3.4% 3Q 2024 YoY OCCUPANCY CHANGE +20 BASIS POINTS QUARTERLY COMPLETIONS 1,496 [YTD: 3,430] KEY TAKEAWAYS Demand continues to lag behind new completions, a […]
Nashville 3Q 2024 Market Report
Research Multifamily Market Reports Nashville 3Q 2024 MARKET SNAPSHOT Nashville 3Q 2024 AVERAGE RENT $1,669 3Q 2024 OCCUPANCY RATE 92.8% 3Q 2024 QUARTERLY NET DEMAND 3,784 [YTD: 10,007] YoY RENT CHANGE -0.8% 3Q 2024 YoY OCCUPANCY CHANGE +10 BASIS POINTS QUARTERLY COMPLETIONS 2,856 [YTD: 11,408] KEY TAKEAWAYS Demand has remained robust despite consistently high delivery […]
New Orleans 3Q 2024 Market Report
Research Multifamily Market Reports New Orleans 3Q 2024 MARKET SNAPSHOT New Orleans 3Q 2024 AVERAGE RENT $1,287 3Q 2024 OCCUPANCY RATE 92.5% 3Q 2024 QUARTERLY NET DEMAND 58 [YTD: 582] YoY RENT CHANGE 2.6% 3Q 2024 YoY OCCUPANCY CHANGE +40 BASIS POINTS QUARTERLY COMPLETIONS 50 [YTD: 207] KEY TAKEAWAYS Strong demand in 2024 saw 582 […]
Northwest Arkansas 3Q 2024 Market Report
Research Multifamily Market Reports Northwest Arkansas 3Q 2024 MARKET SNAPSHOT NORTHWEST ARKANSAS 3Q 2024 AVERAGE RENT $1,142 3Q 2024 OCCUPANCY RATE 94.9% 3Q 2024 QUARTERLY NET DEMAND 601 [YTD: 1,252] YoY RENT CHANGE 2.5% 3Q 2024 YoY OCCUPANCY CHANGE 0 BASIS POINTS QUARTERLY COMPLETIONS 530 [YTD: 1,165] KEY TAKEAWAYS Net absorption has outpaced new unit […]
