For Multifamily Executive, Hamilton Zanze CEO Kurt Houtkooper details the reasons for optimism about the multifamily market and his company’s plans for 2024.Read
Industry Analysis Indicates Strong National Multifamily Market
The national apartment market recorded an average monthly occupancy rate of 95.3% in May, along with annual effective rent growth of 5.0% — the fourth straight month the metric was at or above 5.0%, according to a report from Axiometrics.
The national effective rent growth rate has remained steady over the past six months within a 0.2% range.
The May occupancy rate was a 0.28% increase from May 2014 and the highest since Axiometrics started monthly reporting in 2008, topping the previous peak of 95.2% in August 2014.
The report also shows the Dallas-Fort Worth region is the strongest in Texas by a large margin and among the strongest apartment markets nationally.