Apartment List's September report put the national median rent at $1,388, down 0.1% month over month and down 0.4% year over year. Vacancy fell to 7.0% from a February peak of 7.3%, and units took an average of 34 days to lease after listing.
Why it matters to multifamily marketers
Marketers should treat the slight September dip as normal fall seasonality and benchmark their own days on market against the 34-day national average.