Another piece of research has come out showing occupancy issues in multifamily. After Trepp released a report showing a growing list of cities with apartment occupancy under 80%, Yardi Matrix is evaluating how long it will take for occupancy rates and income to recover to pre-pandemic levels. 

Yardi's research told two different stories of recovery.

In primary markets, the outlook is worse due to a large decline in property fundamentals. In New York and The Bay Area—the poster children for pandemic flight—rents have dropped by double digits.

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Leslie Shaver

Les Shaver has been covering commercial and residential real estate for almost 20 years. His work has appeared in Multifamily Executive, Builder, units, Arlington Magazine in addition to and Real Estate Forum.