Based on RealFacts' numbers, this year is poised for the best sales traction since 2002 when 51 multifamily complexes sold for $738 million. The data includes demographics for 289 class A properties in the region. RealFacts' research team calculates occupancy in the high-end category averages 91% and rent, $1.03 per sf. Year-over-year occupancy rose 0.3% while the same comparison shows a 1.2% rent increase, according to the report.
Averages across all classes are 89% for occupancy and 88 cents per sf for rent, a benchmark that hasn't changed in three years, according to RealFacts. In comparison, the state's average is 89.8% and rent is $733 per month, researchers say.
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