Reis: Apartment Vacancy Rate increased in Q1 to 4.7%

Reis reported that the apartment vacancy rate was at 4.7% in Q1 2018, up from 4.6% in Q4, and up from 4.3% in Q1 2017.  This is the highest vacancy rate since Q3 2012. The vacancy rate peaked at 8.0% at the end of 2009, and bottomed at 4.1% in 2016. From Reis: Continuing on its upward path, the apartment vacancy rate increased to 4.7% from 4.6% at year-end 2017 and 4.3% in the first quarter of 2017. The vacancy rate has increased 60 basis points from a low of 4.1% in Q3 2016. The national average asking rent increased 0.9% in the first quarter while effective rents, which net out......(read more)

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