While average rents rose 3.1 percent year-over-year through November, several metros saw rents decline by as much as 4.6 percent.
Secondary and tertiary markets continue to dominate the ranking, while only two large metros made the cut.
These metros saw their occupancy rates decrease by as much as 120 basis points year-over-year through August.
In contrast to national trends, the occupancy rates for the best-performing metros went up by as much as 160 basis points.
The country’s best-performing markets ranked by year-over-year rent increases through July 2019.
Despite concerns about an economic slowdown, multifamily development shows no sign of decelerating. MHN identifies five leading secondary and tertiary metros to watch in 2019.
The Dallas-Fort Worth market leads the nation in multifamily units under construction. Find out which new communities made the list of the market’s biggest projects.
Through July, a single market accounted for one third of the region’s investment sales volume, according to Yardi Matrix data.
A breakdown of the country’s best-performing markets over the first two quarters, ranked by completions as a percentage of total rental inventory.
The number of multifamily units sold in Seattle during the year’s first six months was up 29 percent year-over-year, with the total sales volume reaching $1.9 billion.