Thursday, January 2, 2014

2013: Portland Beats SF and Seattle For Rent Growth

Nationally, apartment occupancy stands at 95 percent with rent growth at 2.8 percent annually.*

New apartment supply spiked a bit the last three months of the year, for a total of 163,155 new units added. Calendar year absorption stood at 155,491. New supply is not resulting in net move-outs at existing properties -- so far.

"Middle market properties are in the sweet spot for overall performance right now," according to Greg Willett, VP of research. "Only a handful of units are available in that product niche across most metros."

For 2013, Portland placed ahead of San Francisco and Seattle for Annual Rent Growth

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*Results of 7 million apartment units tracked by MPF Research.