Reis: Apartment Vacancy Rate increased in Q3 to 4.8%

Reis reported that the apartment vacancy rate was at 4.8% in Q3 2018, up from 4.7% in Q2, and up from 4.4% in Q3 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: The apartment vacancy rate increased in the quarter to 4.8% from 4.7% last quarter and 4.4% in the third quarter of 2017 . The vacancy rate has now increased 70 basis points from a low of 4.1% in Q3 2016. The national average asking rent increased 1.2% in the third quarter while the average effective rent, which nets out......(read more)

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