The pace of migration has slowed since the beginning of 2024.

Previously high-flying rental markets have dropped off in rent growth.

Many companies have chosen to leave California for Texas, Tennessee, Arizona and Colorado.

Downtown areas have been losing some apartment construction momentum since 2020.

Vacancies should peak by the end of this year.

In the short term, some segments are softening.

Meanwhile, rent growth remains steady in April across the sector.

Young families pay as much as half their monthly income for rent and childcare.