These markets saw the strongest net absorption of apartment units in 2020, even amid a pandemic.
While the past year hasn’t gone without hiccups for the U.S. multifamily sector, with some households struggling to pay rents and a few gateway cities seeing spiking vacancies, the sector still posted a surprisingly strong performance, according to a March report from real estate data firm Yardi Matrix. Net absorption of apartment units declined by only 12 percent compared to 2019, to 252,000 units or 1.7 percent of the country’s total apartment stock. The average national apartment occupancy rate at the end of December stood at 94.7 percent.
Read more...Top 20 U.S. Markets for Apartment Net Absorption via WMRE