NO. 07 | CHART FOR THOUGHT

Multifamily Annual Rent Growth by Bedroom

Multifamily annual rent growth by bedroom

“Last year in some markets we prioritized occupancy over rent growth due to unemployment concerns and overall weaker economic conditions. As the economy reopened this year, we’ve been able to capitalize on a huge rebound in multifamily demand, with many properties achieving 10% or greater lease trade out in recent months.” – Will Feltus 

“Large 2s and 3s are in high demand as people roommate up out of the pandemic. Also, studios have the lowest rent obviously so even a $20/month discount would have a bigger impact in terms of a percentage basis.” – Dennis Grzeskowiak

“Studios are more commonly found in dense, urban infill markets which explains their underperformance throughout the pandemic. For instance, studios make up 14% of the total market-rate units in gateway markets versus just 5% across the overall United States.” – Ben Easton