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Apartment Market Trends, Occupancy Rate, January, 2013

Contributed by Meagan Boyle, February 21, 2013

Occupancy Rate

Nationally, the occupancy rate declined 7 basis points (bps) from 94.11% in December to 94.04% in January. Although sequential growth was slightly negative, the occupancy rate was up 49 bps on an annual basis. Even though it is a seasonally slow time of year, the following chart shows the occupancy rate continues to improve from the comparable months of 2011 and 2012. 

On the other hand, annual effective rent growth has been slowly moderating since late-2011 despite improvements in the occupancy rate.

national-occupancy-rate-and-effective-rent-growth