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Posted over 5 years ago

7 Markets with Record Breaking Multifamily Occupancy Levels

Normal 1575719922 Black And White Broken Dark 235727 1014x487

According to RealPage, the national apartment occupancy rate is at an 18-year high.

This is fantastic news for apartment syndicators and passive apartment investors. The higher the occupancy rate at an apartment, the higher the net operating income. Also, higher occupancy rates result in higher rental rates due to the lower supply of available units.

While the overall market is at an 18-year high, seven markets either achieved an all-time high or a 20-year high. Here is a breakdown of the seven MSAs with record-breaking occupancy levels in the second quarter of 2019:

All-Time High Occupancy Levels

1. Cincinnati, OH-KY-IN

Cincinnati Oh E1566931062365

2Q19 Occupancy: 96.7%

Cycle Average: 95.1%

2. Phoenix-Mesa-Scottsdale, AZ

Phoenix Az 1 E1566931110244

2Q19 Occupancy: 96.2%

Cycle Average: 93.1%

3. Greensboro/Winston-Salem, NC

Greensboro Nc E1566931198112

2Q19 Occupancy: 95.8%

Cycle Average: 93.1%

20-Year High Occupancy Levels

4. Detroit-Warren-Dearborn, MI

Detroit Mi E1566931292719

2Q19 Occupancy: 97.1%

Cycle Average: 95.0%

5. Philadelphia-Camden-Wilmington, PA-NJ-DE-MD

Philadelphia Pa E1566931401342

2Q19 Occupancy: 96.5%

Cycle Average: 95.2%

6. Raleigh/Durham, NC

Raleigh Nc Lifestore E1566931477647

2Q19 Occupancy: 95.5%

Cycle Average: 94.3%

7. St. Louis, MO-IL

St Louis Mo

2Q19 Occupancy: 95.1%

Cycle Average: 93.4%

Bonus: 10-Year High Occupancy Levels

8. Washington-Arlington-Alexandria, DC-VA-MD-WV

Washington Dc E1566931576369

2Q19 Occupancy: 96.2%

Cycle Average: 95.3%

9. Virginia Beach-Norfolk-Newport News, VA-NC

Virginia Beach Va E1566931695981

2Q19 Occupancy: 96.1%

Cycle Average: 93.1%

10. Las Vegas-Henderson-Paradise, NV

Las Vegas Nv Booking

2Q19 Occupancy: 96.0%

Cycle Average: 93.1%

11. Baltimore-Columbia-Towson, MD

Baltimore Md

2Q19 Occupancy: 95.5%

Cycle Average: 94.8%



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