PHILADELPHIA-New-job growth this year after sliding in 2009 is helping improve multifamily vacancy and rent rates in the area. Looking ahead, things are supposed to get even better in market, according to a recent Marcus & Millichap report.

After an 80-basis-point increase last year in vacancy, the firm expects that number to fall 100 points by the end of the year, bringing it to 5.5%. Additionally, average rents are forecast to increase 1.7%, hitting $1,019, after slipping 2.1% in 2009.

This improvement is due to the Philly area's employment picture. About 13,000 new jobs are expected to come online this year, representing a 0.5% increase for the overall market. That number dipped 3.6% last year.