With apartment rents clearly decelerating now, the market is waiting to see where the bottom could be.

Greg Willett, First Vice President, National Director IPA Research, tells GlobeSt.com that his base case scenario calls for overall apartment rent growth of 3.1 percent during 2023.

"That performance lines up with the typical growth seen in the pre-pandemic period after pricing went on a wild ride in 2020 to 2022," he said.

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