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Top 10 Metros with Highest Occupancy Rates

December 17, 2012 Leave a comment Go to comments

Across the board, occupancy rates were up during the third quarter of 2012, according to the latest data from Dallas-based Axiometrics.

In August alone, occupancy rates increased 89 basis points (bps) on a year-to-date basis and 26 bps on an annual basis. But this positive number still represents a decline from last August, when occupancy rates were up 102 bps on a year-to-date basis, and 58 bps on an annual basis. But demand is still high, so there’s no cause for alarm.

Here’s a list of some cities among the highest in average occupancy rates as of the third quarter of 2012:

City

Average Occupancy Rate

New York

97%

Boston

96.1%

Los Angeles

95.6%

Denver

95.3%

Chicago

95.2%

Seattle

95.2%

Dallas

94.5%

Orlando

94.4%

Houston

93.3%

Phoenix

93%

In terms of rent growth, San Francisco and San Jose led the way with annual rent growth of 11 percent and 8.8 percent year-over-year, respectively. Other leaders include Denver at 7.1 percent, Houston at 6.7 percent, and Seattle at 5.4 percent on a year-over-year basis for the third quarter.

Reprint from MultifamilyExecutive.com           ByDerek Mearns

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Categories: multifamily, Uncategorized
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