There was a time when the fact that apartments in San Francisco enjoyed 95.4% occupancy in January would not have been considered a big deal. But in January this year that changed.
A RealPage Market Analytics report noted San Francisco's achievement "isn't spectacular." However, it was good enough to save it from the fate of other big markets with relatively high occupancy rates that saw occupancy fall or stagnate.
While San Francisco experienced a 0.4%, 40 basis-point increase in occupancy on an annual basis, Minneapolis saw no annual change in its 94.2% occupancy level, and it dipped 0.1% to 94.6% in Detroit and 94.8% in West Palm Beach. Annual declines reached as low as 140 bps in some big-supply Sun Belt markets, the report noted.
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