Multifamily Vacancy Level Highest Since 1986

Commercial Real Estate News reports that the national multifamily vacancy rate is at 7.8%- the highest since 1986.  With the highest unemployment rate in decades (9.8%) it's no wonder landlords are seeing more vacancies.  The laws of supply and demand have caused a decrease in the average effective rent rates as landlords struggle to fill vacancies.

Link to Article:

http://www.loopnet.com/xnet/mainsite/news/news.aspx?DocID=9968&sourcecode=1lntd009

Jared Hammond

Jared Hammond

Real Estate Associate & Property Manager
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