Atlanta 2Q 2024 Report
Atlanta 2Q 2024 Market Report MARKET SNAPSHOT AVERAGE RENT $1,601 2Q 2024 2Q 2024 RENT CHANGE -2.7% OCCUPANCY RATE 90.6% 2Q 2024 ANNUAL OCCUPANCY CHANGE -50 BASIS POINTS QUARTERLY DEMAND 6,265 [YTD: 10,143] QUARTERLY COMPLETIONS 7,262 [YTD: 12,296] KEY TAKEAWAYS Net absorption surged in the Atlanta multifamily market in 2Q 2024, as the renters absorbed 6,265 […]
Austin 2Q 2024 Report
Austin 2Q 2024 Market Report MARKET SNAPSHOT AVERAGE RENT $1,561 2Q 2024 2Q 2024 RENT CHANGE -6.2% OCCUPANCY RATE 91.1% 2Q 2024 ANNUAL OCCUPANCY CHANGE 140 BASIS POINTS QUARTERLY DEMAND 6,366 [YTD: 10,882] QUARTERLY COMPLETIONS 7,128 [YTD: 15,940] KEY TAKEAWAYS With roughly 16,000 units delivered in the first half of this year and another 9,300 […]
Chicago 2Q 2024 Report
Chicago 2Q 2024 Market Report MARKET SNAPSHOT AVERAGE RENT $1,765 2Q 2024 2Q 2024 RENT CHANGE 2.4% OCCUPANCY RATE 95.5% 2Q 2024 ANNUAL OCCUPANCY CHANGE 30 BASIS POINTS QUARTERLY DEMAND 3,632 [YTD: 6,604] QUARTERLY COMPLETIONS 2,684 [YTD: 5,794] KEY TAKEAWAYS In the first half of 2024, Chicago’s rental market experienced a 2.4% annual increase in […]
Cleveland 2Q 2024 Report
Cleveland 2Q 2024 Market Report MARKET SNAPSHOT AVERAGE RENT $1,177 2Q 2024 2Q 2024 RENT CHANGE 3.2% OCCUPANCY RATE 92.3% 2Q 2024 ANNUAL OCCUPANCY CHANGE -130 BASIS POINTS QUARTERLY DEMAND 683 [YTD: 804] QUARTERLY COMPLETIONS 436 [YTD: 834] KEY TAKEAWAYS Cleveland’s apartment market boasts robust rent growth, exceeding the national average with a 3.2% year-over-year […]
Columbus 2Q 2024 Report
Columbus 2Q 2024 Market Report MARKET SNAPSHOT AVERAGE RENT $1,295 2Q 2024 2Q 2024 RENT CHANGE 2.8% OCCUPANCY RATE 94.1% 2Q 2024 ANNUAL OCCUPANCY CHANGE -10 BASIS POINTS QUARTERLY DEMAND 1,647 [YTD: 2,902] QUARTERLY COMPLETIONS 1,082 [YTD: 2,179] KEY TAKEAWAYS Despite a broader market slowdown in terms of rent growth, Columbus recorded a 2.8% annual […]
Dallas-Fort Worth 2Q 2024 Report
Dallas-Fort Worth 2Q 2024 Market Report MARKET SNAPSHOT AVERAGE RENT $1,515 2Q 2024 2Q 2024 RENT CHANGE -1.6% OCCUPANCY RATE 91.9% 2Q 2024 ANNUAL OCCUPANCY CHANGE 70 BASIS POINTS QUARTERLY DEMAND 11,041 [YTD: 16,276] QUARTERLY COMPLETIONS 11,718 [YTD: 21,785] KEY TAKEAWAYS Dallas-Fort Worth’s apartment market is rebounding as robust demand catches up with recent supply growth. […]
Des Moines 2Q 2024 Report
Des Moines 2Q 2024 Market Report MARKET SNAPSHOT AVERAGE RENT $1,133 2Q 2024 2Q 2024 RENT CHANGE 2.1% OCCUPANCY RATE 94.0% 2Q 2024 ANNUAL OCCUPANCY CHANGE -50 BASIS POINTS QUARTERLY DEMAND 207 [YTD: 286] QUARTERLY COMPLETIONS 312 [YTD: 717] KEY TAKEAWAYS Des Moines’ development pipeline is contracting significantly, with around 2,000 units under construction as […]
Houston 2Q 2024 Report
Houston 2Q 2024 Market Report MARKET SNAPSHOT AVERAGE RENT $1,327 2Q 2024 2Q 2024 RENT CHANGE 0.1% OCCUPANCY RATE 90.9% 2Q 2024 ANNUAL OCCUPANCY CHANGE -50 BASIS POINTS QUARTERLY DEMAND 7,816 [YTD: 11,192] QUARTERLY COMPLETIONS 7,528 [YTD: 13,223] KEY TAKEAWAYS During the critical spring leasing season, renters absorbed over 7,800 units, slightly surpassing the 7,528 […]
Indianapolis 2Q 2024 Report
Indianapolis 2Q 2024 Market Report MARKET SNAPSHOT AVERAGE RENT $1,261 2Q 2024 2Q 2024 RENT CHANGE 2.0% OCCUPANCY RATE 92.8% 2Q 2024 ANNUAL OCCUPANCY CHANGE 0 BASIS POINTS QUARTERLY DEMAND 1,602 [YTD: 2,876] QUARTERLY COMPLETIONS 2,243 [YTD: 3,413] KEY TAKEAWAYS The Indianapolis apartment market witnessed a surge in renter demand in the second quarter with […]
Kansas City 2Q 2024 Report
Kansas City 2Q 2024 Market Report MARKET SNAPSHOT AVERAGE RENT $1,290 2Q 2024 2Q 2024 RENT CHANGE 3.3% OCCUPANCY RATE 93.2% 2Q 2024 ANNUAL OCCUPANCY CHANGE -50 BASIS POINTS QUARTERLY DEMAND 1,675 [YTD: 2,551] QUARTERLY COMPLETIONS 502 [YTD: 1,638] KEY TAKEAWAYS In the second quarter of 2024, Kansas City witnessed a surge in renter demand, as […]
Nashville 2Q 2024 Report
Nashville 2Q 2024 Market Report MARKET SNAPSHOT AVERAGE RENT $1,644 2Q 2024 2Q 2024 RENT CHANGE -1.6% OCCUPANCY RATE 92.7% 2Q 2024 ANNUAL OCCUPANCY CHANGE -60 BASIS POINTS QUARTERLY DEMAND 3,765 [YTD: 6,280] QUARTERLY COMPLETIONS 4,698 [YTD: 7,950] KEY TAKEAWAYS The Nashville apartment market achieved an impressive absorption of 3,765 units this period, the second-highest […]
Oklahoma City 2Q 2024 Report
Oklahoma City 2Q 2024 Market Report MARKET SNAPSHOT AVERAGE RENT $982 2Q 2024 2Q 2024 RENT CHANGE 2.5% OCCUPANCY RATE 89.8% 2Q 2024 ANNUAL OCCUPANCY CHANGE -30 BASIS POINTS QUARTERLY DEMAND 774 [YTD: 1,009] QUARTERLY COMPLETIONS 1,085 [YTD: 1,791] KEY TAKEAWAYS The Oklahoma City multifamily market experienced a significant surge in rental demand during the […]
Omaha 2Q 2024 Report
Omaha 2Q 2024 Market Report MARKET SNAPSHOT AVERAGE RENT $1,189 2Q 2024 2Q 2024 RENT CHANGE 2.7% OCCUPANCY RATE 95.3% 2Q 2024 ANNUAL OCCUPANCY CHANGE -20 BASIS POINTS QUARTERLY DEMAND 821 [YTD: 1,269] QUARTERLY COMPLETIONS 812 [YTD: 961] KEY TAKEAWAYS During the vital spring leasing season, Omaha’s multifamily market demonstrated healthy demand, as absorption edged […]
Orlando Q2 2024 Report
Orlando 2Q 2024 Market Report MARKET SNAPSHOT AVERAGE RENT $1,765 2Q 2024 2Q 2024 RENT CHANGE -1.9% OCCUPANCY RATE 93.6% 2Q 2024 ANNUAL OCCUPANCY CHANGE -20 BASIS POINTS QUARTERLY DEMAND 3,795 [YTD: 7,101] QUARTERLY COMPLETIONS 2,427 [YTD: 6,673] KEY TAKEAWAYS In a striking reversal from a trend that persisted for eight quarters, the Orlando multifamily […]
San Antonio 2Q 2024 Report
San Antonio 2Q 2024 Market Report MARKET SNAPSHOT AVERAGE RENT $1,247 2Q 2024 2Q 2024 RENT CHANGE -1.8% OCCUPANCY RATE 90.1% 2Q 2024 ANNUAL OCCUPANCY CHANGE -70 BASIS POINTS QUARTERLY DEMAND 2,114 [YTD: 3,250] QUARTERLY COMPLETIONS 2,340 [YTD: 6,053] KEY TAKEAWAYS Leasing in San Antonio maintained its upward momentum at the mid-point of 2024, although […]
Tulsa 2Q 2024 Report
Tulsa 2Q 2024 Market Report MARKET SNAPSHOT AVERAGE RENT $994 2Q 2024 2Q 2024 RENT CHANGE 3.9% OCCUPANCY RATE 92.5% 2Q 2024 ANNUAL OCCUPANCY CHANGE 40 BASIS POINTS QUARTERLY DEMAND 497 [YTD: 872] QUARTERLY COMPLETIONS 262 [YTD: 1,406] KEY TAKEAWAYS In Q2 2024, Tulsa’s average rents surged by 3.9%, nearly four times the national average, […]
Atlanta Q1 2024 Report
Atlanta 1Q 2024 Market Report MARKET SNAPSHOT AVERAGE RENT $1,587 1Q 2024 1Q 2024 RENT CHANGE -3.3% OCCUPANCY RATE 90.4% 1Q 2024 ANNUAL OCCUPANCY CHANGE -130 BASIS POINTS TOTAL OPERATING EXPENSE ANNUAL CHANGE 10.0% (FEB 2024) NET OPERATING INCOME ANNUAL CHANGE 0.6% (FEB 2024) * Please note that these employment figures have been adjusted for […]
Austin Q1 2024 Report
Austin 1Q 2024 Market Report MARKET SNAPSHOT AVERAGE RENT $1,562 1Q 2024 1Q 2024 RENT CHANGE -6.2% OCCUPANCY RATE 90.6% 1Q 2024 ANNUAL OCCUPANCY CHANGE -210 BASIS POINTS TOTAL OPERATING EXPENSE ANNUAL CHANGE 4.4% (FEB 2024) NET OPERATING INCOME ANNUAL CHANGE 0.6% (FEB 2024) * Please note that these employment figures have been adjusted for […]
Birmingham Q1 2024 Report
Birmingham 1Q 2024 Market Report MARKET SNAPSHOT AVERAGE RENT $1,185 1Q 2024 1Q 2024 RENT CHANGE -0.7% OCCUPANCY RATE 90.0% 1Q 2024 ANNUAL OCCUPANCY CHANGE -20 BASIS POINTS TOTAL OPERATING EXPENSE ANNUAL CHANGE 8.6% (FEB 2024) NET OPERATING INCOME ANNUAL CHANGE 0.1% (FEB 2024) * Please note that these employment figures have been adjusted for […]
Boston Q1 2024 Report
Boston 1Q 2024 Market Report MARKET SNAPSHOT AVERAGE RENT $2,789 1Q 2024 1Q 2024 RENT CHANGE 2.0% OCCUPANCY RATE 95.7% 1Q 2024 ANNUAL OCCUPANCY CHANGE -40 BASIS POINTS TOTAL OPERATING EXPENSE ANNUAL CHANGE 5.8% (FEB 2024) NET OPERATING INCOME ANNUAL CHANGE 5.9% (FEB 2024) * Please note that these employment figures have been adjusted for seasonal […]
Charlotte Q1 2024 Report
Charlotte 1Q 2024 Market Report MARKET SNAPSHOT AVERAGE RENT $1,541 1Q 2024 1Q 2024 RENT CHANGE -2.9% OCCUPANCY RATE 91.7% 1Q 2024 ANNUAL OCCUPANCY CHANGE -140 BASIS POINTS TOTAL OPERATING EXPENSE ANNUAL CHANGE 9.8% (FEB 2024) NET OPERATING INCOME ANNUAL CHANGE 3.7% (FEB 2024) * Please note that these employment figures have been adjusted for seasonal […]
Chicago 1Q 2024 Report
Chicago 1Q 2024 Market Report MARKET SNAPSHOT AVERAGE RENT $1,734 1Q 2024 1Q 2024 RENT CHANGE 2.5% OCCUPANCY RATE 95.3% 1Q 2024 ANNUAL OCCUPANCY CHANGE 10 BASIS POINTS TOTAL OPERATING EXPENSE ANNUAL CHANGE 6.9% NET OPERATING INCOME ANNUAL CHANGE 7.8% * Please note that these employment figures have been adjusted for seasonal variations and are […]
Cincinnati Q1 2024 Report
Cincinnati 1Q 2024 Market Report MARKET SNAPSHOT AVERAGE RENT $1,224 1Q 2024 1Q 2024 RENT CHANGE 2.5% OCCUPANCY RATE 94.1% 1Q 2024 ANNUAL OCCUPANCY CHANGE -130 BASIS POINTS TOTAL OPERATING EXPENSE ANNUAL CHANGE 7.8% (FEB 2024) NET OPERATING INCOME ANNUAL CHANGE 7.4% (FEB 2024) * Please note that these employment figures have been adjusted for […]
Cleveland Q1 2024 Report
Cleveland 1Q 2024 Market Report MARKET SNAPSHOT AVERAGE RENT $1,152 1Q 2024 1Q 2024 RENT CHANGE 2.9% OCCUPANCY RATE 92.3% 1Q 2024 ANNUAL OCCUPANCY CHANGE -160 BASIS POINTS TOTAL OPERATING EXPENSE ANNUAL CHANGE 4.1% (FEB 2024) NET OPERATING INCOME ANNUAL CHANGE 5.9% (FEB 2024) * Please note that these employment figures have been adjusted for […]
Columbus Q1 2024 Report
Columbus 1Q 2024 Market Report MARKET SNAPSHOT AVERAGE RENT $1,266 1Q 2024 1Q 2024 RENT CHANGE 2.7% OCCUPANCY RATE 93.8% 1Q 2024 ANNUAL OCCUPANCY CHANGE -60 BASIS POINTS TOTAL OPERATING EXPENSE ANNUAL CHANGE 4.7% (FEB 2024) NET OPERATING INCOME ANNUAL CHANGE 9.7% (FEB 2024) * Please note that these employment figures have been adjusted for […]
