U.S. rental apartment occupancy reached 96.5 percent in the third quarter of 2016, according MPF Research, the market intelligence division of rental housing technology firm RealPage, Inc. (NASDAQ: RP). Up from 96.2 percent a year ago, today’s occupancy reading is just shy of the all-time peak of 96.8 percent set in the tech boom period of 2000.
Most major metros have very high occupancy rates and are seeing very strong rent growth. The markets with the highest growth are:
- Sacramento, CA with 11.6 percent year over year growth
- Riverside-San Bernadino, CA, 9.6 percent
- Seattle-Tacoma, 8.5 percent
- Portland, 8.3 percent
Click here for access to their report and a list showing current top-performing metros for annual rent growth.