Insurance costs are rising at an accelerated rate for commercial real estate, up 33% year-over-year, per apartment unit to $180, according to Marcus & Millichap's new report.
Insurance now accounts for more than 8 percent of an owner's quarterly per-unit operating expenses, nearly double the share from five years ago.
Property tax and payroll costs combined rose 9 percent in the past year and the national average effective rent rose 4 percent.
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