Rent growth rose by 1.4% in 3-star properties in 2023, outperforming 4- and 5-star properties as well as 1- and 2-star, according to Apartments.com's Q4 2023 Multifamily Rent Report.

The report defines 3-star as "B" properties, typically in garden-style.

"The demand for 3-star properties was due in large part to improved consumer confidence, lower inflation, and lack of a recession," according to the report.

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