Multifamily Rent Growth in 2012 Remained Above 2.5% Norm

CARROLLTON, TX-In its year-end report concerning the U.S. multifamily property sector, locally based MPF Research pointed out a few interesting trends. First, rent growth during the past year at 3%  remained slightly above the long-term norm of 2.5% recorded during the past couple of decades and second, national occupancy was at 94.9%, slightly above the 94.7% reported at the end of 2011.

Though the occupancy was slightly lower than the 95.4% reported during Q3 2012, it should be remembered that the nation’s occupancy rate bottomed out during the recession at 92% in 2009. Regardless, MPF Research vice president Greg Willett points out that property owners and operators aren’t necessarily pushing rents – or at least aren’t pushing them as hard as they were a year ago.