Data from two separate reports come to different conclusions about whether the national apartment market has shifted to a tenant one or remains in control of landlords.
In one, Redfin points out the rising vacancies landlords are facing as completed residential projects in buildings with five or more units rose 60% year over year on a seasonally-adjusted basis to 484,000 in March.
Another report, by researchers at the Florida Atlantic University, found that Stockton, Calif., was the only metro area in the country's 100 largest to offer a rental discount, with renters in all other major markets paying a premium for their housing. It found that the average monthly rent in Stockton was about $2,397, just below the $2,400 that the average renter should be paying, based on historical trends.
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