Q2 effective rents reached $1,841 per unit with quarterly growth of 0.9%, and vacancy held steady at 6.8%. Trailing 12-month multifamily sales volume reached $173.6 billion at an average cap rate of 5.6%.
Why it matters to multifamily marketers
With fundamentals edging back toward equilibrium, marketers can start pivoting messaging from pure concessions toward lifestyle, amenities, and value positioning.