As the Vacancy Rate Rises, Rents Are Poised to Fall
Pro Builder
MAY 18, 2023
Increased supply of newly constructed apartments has led to a vacancy rate of 6.4%, the highest in two years, and that availability is sending prices slightly lower. Riverside, CA, saw rents fall 10.9% And in Las Vegas, the median lease was 5.7% and 8.9%, respectively. lower than in 2022, settling at a mere $1,509.
Let's personalize your content