East Coast Rent Growth Forecasted Ahead of the U.S. in 2024

  in   Insights

The East Coast apartment markets consistently outperform the national average for rent growth, and the forecast for 2024 is much of the same. In fact, most East Coast markets – from giant New York, NY to tiny Utica, NY – are currently experiencing rent growth ahead of the national average. When looking at annual average forecasted rent growth and forecasted percent inventory growth, it becomes clear that the two East Coast subregions are set to rank toward the top of the U.S. regional leaderboard for rent growth in 2024. And contributing to that stability is strong demand in the absence of large supply volumes. The Northeast markets are slated to see rent growth of nearly 3% while inventories should increase an average of about 1.5%. Meanwhile, Mid-Atlantic markets are expected to command rent growth close to 2.5% and inventory increases of around 3%.

For more information on the state of apartment markets along the East Coast, including forecasts, watch the webcast Market Intelligence Webcast: Q1 East Coast Region.