Boston, Santa Monica, and Tallahassee lead a growing list of cities whose multifamily markets are beginning to crack, with the percentage of loans with occupancy under 80% increasing substantially over the last year. 

A new report from Trepp notes that signs of “fraying” are beginning to appear in the apartment segment across some major US markets. Boston leads the way with 28% of properties with multifamily loans with less than 80% occupancy, followed by Santa Monica (22.78%), Tallahassee (15.38%), San Francisco (14.62%), Seattle (11.02%), Kansas City (9.88%), Memphis (9.33%), Cleveland (8.82%), Marietta (8.11%), and Oklahoma City (8%).

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