Research desk
Vacancy and absorption across the national rental market: where units are sitting, how long they sit, and what the numbers say about pricing and concessions. The desk publishes an original briefing every morning, and every one that carries this tag collects here.
4 briefings on this topicevery figure linked to its source
Latest on this topic
Concessions now run on 43.5% of listings across the 50 largest metros, up 3.1 points in a year, with 18 markets above half. The advertised rent is no longer the price — and Census says the rental vacancy rate's latest annual move is not statistically significant.
Read the briefingAugust Census data shows apartment completions down 35.7% year over year, a statistically significant drop, while permits for 5+ unit buildings rose 9.4%. The widely reported 22.5% plunge in starts carries a margin of error of plus or minus 24.9 points.
Read the briefingPublished estimates put a turn at roughly $4,000. Divide the annual dollars an increase earns by that number and you get the move-out risk it can afford to add — the one calculation that should settle most renewal offers in a flat market.
Read the briefingRealPage shows rents up 0.9% year over year and Yardi Matrix logs its first positive August in years, but 1.2 million units still in lease-up cap growth. Renewal pricing this fall depends on your submarket's lease-up share and concession rate, not the national line.
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