Although there are many major metros seeing an uptick in multifamily occupancy rates, economic downturns have impacted other metros negatively.
To that point, the five markets where occupancy has fallen the most are scattered across the nation, according to new data from Yardi Matrix.
Nationally, rents have risen as much as 9%, Yardi Matrix said last month.
While the No. 4 Scranton-Wilkes-Barre, Pennsylvania market saw a steady occupancy growth from July to August this year, the other four markets saw a significant drop.
The one trend seen in all five of these markets is a constant decrease in occupancy.
Suraj Shrestha is an associate at Harborside Partners. He has been taking the lead role on research projects; to develop and implement online marketing strategies for search engine optimization and social media marketing. He is one of the core parts for helping to grow business revenue and the company’s online presence.