The spread between going-in and exit cap rates showed a slight decrease to 11 basis points during the quarter.

The average household income in the richest suburb is nearly $570,000.

Each subset has its own unique value peaks and declines.

It also remains above pre-pandemic trends.

Annual multifamily rent growth has hovered around 1% for about a year following a rapid deceleration in 2021 and 2022.

Oversupply is helping Texas and Florida renters win concessions including free parking and discounted rent.

This could lead to lower supply and higher rates.

New York City led rent growth, while negative rent growth returned to Sun Belt metros.