Multifamily Market Commentary
Location, Location, Location: Suburban vs Urban Metros
December 15, 2020
The COVID-19 pandemic and resulting recession certainly impacted the multifamily sector. Although we estimate the national average rent decline to have been approximately negative 0.5 percent as of third quarter 2020, obviously that has not been the case everywhere. As in the adage that the three most important things about real estate are location, location, and location, the same has held true when it comes to the change in multifamily rent levels.