According to data recently published by the ALN Apartment Data firm, apartments across the nation are suffering a marked decrease in occupancy and average rent rates. While this is a great situation for the renter, apartments are struggling to keep their books in the black. As occupancy dips lower, apartment communities are finding they must lower rates and increase advertising to match the lack of demand.
In order for most apartment communities to be profitable, they must maintain around 90% occupancy or above. According to data released, most major apartment market areas are well below this mark. To find the market trends in your city, click National Apartment Occupancy and Average Rent Rates to view the entire article.