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How Far Will Apartment Rents Fall This Year?

January 13, 2023
With apartment rents clearly decelerating now, the market is waiting to see where the bottom could be.

Greg Willett, First Vice President, National Director IPA Research, tells GlobeSt.com that his base case scenario calls for overall apartment rent growth of 3.1 percent during 2023.

“That performance lines up with the typical growth seen in the pre-pandemic period after pricing went on a wild ride in 2020 to 2022,” he said.

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About Institutional Property Advisors (IPA)

Institutional Property Advisors (IPA) is a division of Marcus & Millichap (NYSE: MMI), a leading commercial real estate services firm in North America. IPA’s combination of real estate investment and capital markets expertise, industry-leading technology, and acclaimed research offer customized solutions for the acquisition, disposition and financing of institutional properties and portfolios. For more information, please visit www.institutionalpropertyadvisors.com.

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