Apartment Occupancy Improves Notably in Small Georgia Town

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Apartment occupancy has improved notably in the small market of Columbus. Situated right on the Chattahoochee River, the dividing line between Georgia and Alabama, Columbus is Georgia’s second-most populated city but has only about 24,800 units of existing apartment stock. As apartment occupancy nationwide has faded over the course of the past year, Columbus has made notable progress. March 2024 occupancy in Columbus stood at 95.4%, ahead of the year-earlier rate by 90 basis points (bps), according to data from RealPage Market Analytics. After Stockton/Lodi, CA, Columbus ranked #2 nationwide for occupancy growth in the past year. Corpus Christi, TX was the only other South region market among the largest 150 to see annual occupancy growth of more than 50 bps. Meanwhile, in the U.S. overall, occupancy faded to 94.1% in March, after falling 60 bps for the year.