A cool summer for the US multifamily market
This report analyzes multifamily data through August 2024, covering the growth that typically aligns with the summer leasing season.
The second third of 2024 shows that renewal rates continue to close the gap with new lease rates. Prior to the pandemic, it was common for renewal rates to be above new lease rates, but it remains to be seen whether this pattern will reestablish itself.
Download the report to learn more about these trends:
- Continued flat rent growth for new leases
- Narrowing the gap between renewals and new lease rates
- Decreased move-out volumes as consumers choose to renew
- Increased volume of portal-based rent payments
The previous report covering multifamily data through August 2024 is available here.