National Multifamily Report: Gateway Markets Demonstrate Resilience
09.20.2023
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Multifamily Legislation
Higher Operating Costs Amid Softer Rent Growth Poses Challenges, Performance Metrics Sturdier in Gateway Metros
Apartment demand during the second quarter of 2023 was stronger than in any period of 2022, as traditional seasonal patterns returned. The sector is not without challenges, however, as operating expenses have surged while higher vacancy rates stymie rent growth. Historic development, albeit largely clustered in the Sun Belt, will also maintain upward pressure on national vacancy through year-end.
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