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Apartment Occupancy Rate Nears Record High

July 17, 2017

Apartment Occupancy Rate Nears Record High

July 6, 2017 | DAILY REAL ESTATE NEWS 

The number of apartment dwellers nationwide is nearing a record, as 95 percent of units are now occupied, according to rental data from RealPage, a real estate analytics firm. “Solid job formation, continued limited loss of renters to home purchase, and widespread availability of appealing new apartments” are continuing to boost rental demand, says RealPage CEO Greg Willett.

But supply isn’t keeping up with demand: 86,431 units were added nationwide in the last quarter, but RealPage analysts say the demand was closer to 175,645 units. Here are the cities with the highest apartment occupancy rates in the U.S., according to Axiometrics.

  1. Minneapolis-St. Paul, Minn.: 97.4%
  2. Milwaukee: 97%
  3. New York: 96.9%
  4. Detroit: 96.8%
  5. Providence, R.I.: 96.6%
  6. Sacramento, Calif.: 96.4%
  7. San Diego: 96.3%
  8. Columbus, Ohio: 96.3%

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Gil Armour, CFP
February 3, 2016

I have been using Blue Vault Partners for the past five years.  I have found them to be a valuable, unbiased resource when it comes to evaluating and comparing non-traded REITs.  The reports help me analyze which sponsors are doing a responsible job of managing their offerings.  This allows me to limit my REIT recommendations to only the most competitive products, and then track those REITs throughout their life cycle.