Apr
05

U.S. Apartment Market’s Revenue Grew 1.1% in Q1

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The U.S. apartment market has experienced 1.1 percent of revenue growth in the first quarter, with the national occupancy edging up 0.2 percentage points to 94.9 percent and effective rents for new leases climbing 0.9 percent.

“An improving economy and still-limited loss of renters to home purchase are helping spur apartment demand,” said Greg Willett, vice president of MPF Research, a division of North Texas-based RealPage Inc. “At the same time, deliveries remain very limited by historical standards.”

The Q1 report shows annual revenue growth climbed 5.8 percent while occupancy rose 1.2 percent and effective rents increased 4.6 percent.

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