U.S. Apartment Rent Growth Eases to 1% in Q4 2024 - Connect CRE

Jan 6, 2025 · Since mid-2023, Y-O-Y apartment rent growth has hovered around 1% after its rapid deceleration in 2021 and 2022. The national rent per unit closed the year at $1,729, …

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U.S. Apartment Rent Growth Eases To 1% In Q4 2024 - Connect CRE

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Jan 6, 2025 · Since mid-2023, Y-O-Y apartment rent growth has hovered around 1% after its rapid deceleration in 2021 and 2022. The national rent per unit closed the year at $1,729, …

connectcre.com

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Apartment Rent Growth Cools As Supply & Demand Gap Narrows

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Jan 3, 2025 · The US multifamily market ended 2024 with 1% annual rent growth due to seasonal slowdowns and a persistent wave of new supply, as reported by CoStar.. By The Numbers. …

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National Rent Growth Slows, Supply & Demand Gap Narrows

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Jan 6, 2025 · National apartment rent growth slowed to just 1% in Q4, the second consecutive quarter of slowing rent growth as a surge in new supply outpaced demand. Easing growth: …

credaily.com

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Multifamily Industry Closes Year With 1% Rent Growth Nationwide

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Jan 8, 2025 · Four of the six major multifamily markets in Florida closed the year with positive rent growth. Miami led the way with 1.6 percent rent growth, followed by Tampa at 1 percent. While …

apartments.com

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“U.S. Apartment Rent Growth In Q4 2024: Easing To 1%”

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According to Apartments.com, the national year-over-year asking rent growth slowed down to 1.0% in December 2024, compared to 1.1% at the end of September that same year. This …

cremarketbeat.com

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Apartments.com Releases Multifamily Rent Report For The Fourth …

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Jan 6, 2025 · National year-over-year asking rent growth eased to 1.0% in December 2024 compared to 1.1% at the end of September 2024. Since mid-2023, year-over-year rent growth …

businesswire.com

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U.S. Apartment Rent Growth Eases To 1% In Q4 2024

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National year-over-year asking rent growth eased to 1.0% in December 2024 compared to 1.1% at the end of September 2024, Apartments.com said Monday. Since mid-2023, Y-O-Y …

iprore.com

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2024 Rent Growth: An In-Depth Analysis - Think Construction …

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As a result, rent growth in 2024 has been similar to 2023. Nationally, the average effective rent for new leases increased by 2.3% through October, surpassing the 1.8% gain during the same …

thinkconstructionservices.com

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U.S. Multifamily Barely Budges In 2024, Rents Up 0.4% YoY

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Sep 5, 2024 · U.S. apartment occupancy remained steady at 94.1%, marking 10 consecutive months of negligible change. Rent growth has been nearly flat, up 0.4% YoY in August and …

credaily.com

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U.S. Apartment Construction To Hit All-Time High In 2024 - CRE Daily

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Aug 12, 2024 · Looking ahead: RentCafe says the U.S. is expected to add 2 million new apartments by 2028. Interestingly, about 47% of the 369 metros analyzed are projected to …

credaily.com

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Origin Forecasts Continuing Rent Growth For Class A Apartments

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Nov 25, 2024 · A widening supply and demand imbalance for apartments across the U.S. will drive national annual year-over-year Class A multifamily rent growth up 2.4% by January …

connectcre.com

FAQs about U.S. Apartment Rent Growth Eases to 1% in Q4 2024 - Connect CRE Coupon?

How has rent growth changed in 2024?

The result has been a continued slide in average occupancy. Within that environment, rent growth in 2024 has closely resembled last year. The national average effective rent for new leases rose by 2.3% through October of this year, modestly surpassing the 1.8% gain from the same portion of 2023. ...

How has new supply impacted rent growth?

A particular focus has been on the effect of new supply as well as the steady and consistent improvement in apartment demand that has been ongoing since the beginning of 2023. How supply and demand, and the associated movement in average occupancy, have impacted rent growth has been covered – but not in as much detail. ...

How has rent growth compared to last year?

Within that environment, rent growth in 2024 has closely resembled last year. The national average effective rent for new leases rose by 2.3% through October of this year, modestly surpassing the 1.8% gain from the same portion of 2023. Interestingly, the improvement over last year was attributable to just the most recent couple of months. ...

How did apartment demand change in 2022?

The result of surging new supply and cratering apartment demand in 2022 was a 270-basis point decline in national average occupancy. However, despite both average occupancy and apartment demand moving in the wrong direction, the national average effective rent for new leases increased in 2022 by 8%. ...

Does the US economy continue to grow in Q3 2024?

MORE U.S. economy: The U.S. economy continues to grow at a strong pace, as evidenced by the second estimate of Q3 2024 Real Gross Domestic Product (GDP). 1 Growth for Q3 was 2.8% at a seasonally adjusted annual rate, a slight decrease from the rate of 3.0% in the second quarter, but consistent with the advance estimate. ...

Which markets have seen the most rent growth this year?

Specific markets where rent growth has been significantly more robust than the national average include Cleveland – Akron, Chicago, Kansas City, Columbus, Cincinnati – Dayton, Indianapolis, and Detroit. Each of these markets saw the average effective rent increase by between 4% and 6% so far this year. ...