Apartment Market Trends, Asking Rents and Concessions, January, 2013 via Axiometrics

Nationally, the level of asking rent was practically unchanged between December and January. That resulted in the annual growth rate for asking rents slowing from 2.36% in December to 2.25% in January. A year ago annual asking rent growth was 2.14%. While Axiometrics tracks asking rent growth, effective rent growth is our main focus because it matches closest with actual revenue growth.

Concession values lowered the asking rent 1.99% at the national level in December, which is the equivalent of 7.3 days of free rent on a 12-month lease. For comparison, the concession value lowered asking rents 3.33% last year and 5.12% two years ago.

Read more...Apartment Market Trends, Asking Rents and Concessions, January, 2013 via Axiometrics