RealPage Slightly Strengthens Forecast in Most Apartment Markets Based on Economic Indicators
Market Trends
As 2024’s 1st quarter comes into focus, RealPage has updated its forecast to reflect strengthening economic markers that influence the multifamily industry.
Our most recent projections for annual effective rent change in calendar 2024 suggest that within the nation’s 50 largest apartment markets, 12% are expected to witness rent increases of 3% or higher. The bulk of major markets are forecasted to experience growth between 2% and 2.9%. Meanwhile, 38% or markets are predicted to see rent growth ranging from 1% to 1.9%. The smallest portion of markets, 8%, will likely encounter growth below 1%. These forecasts are based on the latest economic indicators and their expected performance in the near term.
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