National Report Card
In today’s financial environment marked by inflationary challenges and investor uncertainty, our forecasts will provide key narratives and impactful market information to help you and your clients navigate multifamily trends and explore exciting opportunities in the year ahead.
Key National Themes:
Tapping into unmet housing demand, national occupancy is forecast to rise 20 basis points year over year to 94.5% in Q4 2024.
A limited supply of single-family inventory for sale along with a healthy economy should underpin apartment demand as leasing activity surges in 2024.
Monthly Effective Rent
With a rise in occupancy and household income, national monthly effective rent is projected to increase 3% year over year to $1,882 in Q4 2024.
Prolonged construction timelines and a more favorable development environment in recent years will lead to robust deliveries this year.