US Apartment Building Vacancy Below 5%, Rents Growing at Fastest Pace Since ’07.

Apartment Building Vacancies Plunge to 2001 Levels

 Main bullet points from Reis Report’s Q2 Apartment Highlights:

  • National vacancies continue to plunge, ending Q2 at 4.7%.
  • There was a slight moderation in vacancy compression, following 10 quarters of vacancy declines.
  • With such low vacancy levels, landlords have been accelerating rent increases.
  • Effective rents increased 1.3%, the fastest pace since Q3, 2007.
  • Inventory growth remains restrained with just 10,000 units coming online.
  • Developers are starting to build more properties to take advantage of the tight market conditions.

vacancy below five percent for US apartment building investorsHow are vacancy and effective rents trending in your market?

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