IE Business Daily Business news for the Inland Empire.
The Inland Empire’s apartment market has a 95.7 percent occupancy rate for March, making it one of the country’s stronger multifamily markets, according to data released Thursday.
The two-county region tied with Los Angeles, San Diego, San Francisco and Detroit for the highest occupancy rates among major U.S. markets, RealPage Inc., a real estate technology and analytics firm in Richardson, Texas reported.
Nationwide, the occupancy rate for this month was 94.5 percent, down from 95 percent in March 2017. That represents a return to normalcy: from 2012 through 2017, the market averaged 95 percent occupancy, which is considered high.
Rent growth between March 2017 and this month was 2.3 percent, the lowest rate of growth since the third quarter of 2010.
Rent growth last year ranged from 2.6 percent to 2.9 percent. It reached its peak in the third quarter of 2015, when it hit 5.3 percent, RealPage reported.
