July 2013 Apartment Market Summary via Axiometrics

After a slight uptick in annual effective rent growth in May and June, the growth moderated in July. For the month, annual effective rent growth measured 3.41%; occupancy remained steady. Although there was no change in occupancy from May to July of this year, occupancy has increased 37 basis points (bps) since a year ago in July 2012.

With annual effective rent growth slowing at the national level for July, all three asset classes (A, B and C) also showed signs of moderation for the month. Still, even though all asset classes reported slower annual effective rent growth from June to July, when comparing July 2012 to July 2013, only Class A has decreased in annual effective rent growth, from 4.12% to 3.20%.

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