Apartment rent growth has softened considerably – into negative territory as a matter of fact – this year. The latest report from Realtor.com notes that for September overall prices were down 0.7% year over year.
Yet that same report also finds that rents in Boston were up 4%, in Birmingham, AL they were up by 4.5%, in Cincinnati, by 3.6%, in Cleveland by 3.2% and in Indianapolis by 3%, among other examples.
That there is a regional divide in rent growth is little secret. RealPage, for example, notes that East Coast apartment markets are outperforming those in the West.
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Erika Morphy
Erika Morphy has been writing about commercial real estate at GlobeSt.com for more than ten years, covering the capital markets, the Mid-Atlantic region and national topics. She's a nerd so favorite examples of the former include accounting standards, Basel III and what Congress is brewing.
