Here are the metros with the highest apartment occupancy | 2019-09-19

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Apartment occupancy nationwide is as high as it’s been in nearly 20 years, with more than 96% of all apartments filled in the 150 largest apartment markets in the country.

Overall, all four regions of the country saw a rise in apartment occupancy in August, according to a study from RealPage

The Northeast saw 97.1% occupancy; 96.6% in the West; 96.5% in the Midwest and 95.7% in the South.

Of the largest markets in the U.S., eight of them saw a weaker occupancy rate in August than in July, while only three had occupancy below 95%. Conversely, nine of the big markets saw greater than 97% occupancy in August. 

Here, from RealPage’s report, are the markets where the most apartments are filled:

1. New York-White Plains, New York, 97.9% occupancy

2. (tie) Newark-Jersey City, New Jersey-Pennsylvania, 97.5% occupancy

2. (tie) Detroit-Warren-Dearborn, Michigan, 97.5% occupancy

4. (tie) Providence-Warwick, Rhode Island-Massachusetts, 97.3% occupancy

4. (tie) Boston-Cambridge-Newton, Massachusetts-New Hampshire, 97.3% occupancy

6. (tie) Milwaukee-Waukesha-West Allis, Wisconsin, 97.2% occupancy

6. (tie) Minneapolis-St. Paul-Bloomington, Minnesota-Wisconsin, 97.2% occupancy

8. (tie) Sacramento-Roseville-Arden-Arcade, California, 97.1% occupancy

8. (tie) Cincinnati, Ohio-Kentucky-Indiana, 97.1% occupancy

10. (tie) Virginia Beach-Norfolk-Newport News, Virginia-North Carolina, 96.9% occupancy

10. (tie) Philadelphia-Camden-Wilmington, Pennsylvania-New Jersey-Delaware-Maryland, 96.9% occupancy

Meanwhile, RealPage’s report also showed that August was the 12th consecutive month that annual rent growth was at or above 3%, which hasn’t happened since 2016.

But there were some markets where rent growth in August was well beyond the national average.

Here are the rent growth leaders for August:

1. Phoenix-Mesa-Scottsdale, Arizona, 8.2% rent growth

2. Las Vegas-Henderson-Paradise, Nevada, 7.5% rent growth

3. Raleigh.Durham, North Carolina, 5.4% rent growth

4. Greensboro/Winston-Salem, North Carolina, 5.2% rent growth

5. (tie) Austin-Round Rock, Texas, 4.6% rent growth

5. (tie) Charlotte-Concord-Gastonia, North Carolina-South Carolina, 4.6% rent growth

5. (tie) Riverside-San Bernardino-Ontario, California, 4.6% rent growth

8. Nashville-Davidson-Murfreesboro-Franklin, Tennessee, 4.5% rent growth

9. Sacramento-Roseville-Arden-Arcade, California, 4.4% rent growth

10. Memphis, Tennessee-Mississippi-Arkansas, 4.1% rent growth



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