Concessions Remain Elevated Despite Spike in Rents

Multifamily market fundamentals have strengthened considerably this year, despite the ongoing challenges posed by the COVID-19 pandemic. The rebound in the economy, most especially in job growth, coupled with pent-up demand for housing and increased household savings, have led to significant rent increases this year, particularly during the spring and summer months. Yet, in many metros there has also been an increase in new supply, resulting in an unusual situation of both elevated rents and concession levels.

Read the December 2021 Market Commentary