Apartment Market Sets 9-Year High with 5.2% Rent Growth in 3Q
October 13, 2015
The national apartment market had its strongest summer in nine years and continued its phenomenal 2015, according to early third quarter 2015 numbers compiled from Axiometrics’ apartment market research.
Annual effective rent growth was 5.2% in the third quarter, the early numbers show, a 10-basis-point (bps) increase from the 5.0% reported in the second quarter of 2015 and a 109-bps rise from the 4.1% in the third quarter of 2014. The rate is the highest since the third quarter of 2006, when rent growth was 5.3%.