Report: Annual Apartment Rent Growth and Occupancy Hit New Highs in July

After a year and a half downturn, the apartment industry is bouncing back as new records were set in July for annual rent growth and occupancy levels. 

The real estate software and data analytics company RealPage reported that asking rents rose 2.2% from June to July and 8.3% year-over-year, blowing past records set 2000-2001. One factor driving rent growth is record occupancy levels. The U.S. occupancy rate was 96.9% in July, surpassing the previous record of 96.5% set in 2000. Read more.