UNLOCK THE POWER OF THE VAULT

Apartment Occupancy Rate Nears Record High

July 17, 2017

Apartment Occupancy Rate Nears Record High

July 6, 2017 | DAILY REAL ESTATE NEWS 

The number of apartment dwellers nationwide is nearing a record, as 95 percent of units are now occupied, according to rental data from RealPage, a real estate analytics firm. “Solid job formation, continued limited loss of renters to home purchase, and widespread availability of appealing new apartments” are continuing to boost rental demand, says RealPage CEO Greg Willett.

But supply isn’t keeping up with demand: 86,431 units were added nationwide in the last quarter, but RealPage analysts say the demand was closer to 175,645 units. Here are the cities with the highest apartment occupancy rates in the U.S., according to Axiometrics.

  1. Minneapolis-St. Paul, Minn.: 97.4%
  2. Milwaukee: 97%
  3. New York: 96.9%
  4. Detroit: 96.8%
  5. Providence, R.I.: 96.6%
  6. Sacramento, Calif.: 96.4%
  7. San Diego: 96.3%
  8. Columbus, Ohio: 96.3%

Read Full Article Here

Go Back
Austin Gross
Blue Vault Broker Dealer Educational Summit
February 23, 2019

Blue Vault has been an important partner to Geneos in providing us and our advisors pertinent information about non-traded products and the industry as a whole. The annual BD Summit is a valuable due diligence experience for any broker dealer."