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Chart of The Week – November 27th 2023

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Chart of The Week – November 27th 2023

Picture of Chris Nebenzahl

Chris Nebenzahl

Chart of the Week – November 27th 2023

Top 5 and Bottom 5 Markets – Annual Rent Growth

This week we examine the top and bottom performing markets on a net effective rent basis. We have talked a lot about the markets that are both outperforming and underperforming in the previous charts of the week and rent and operating trends report, yet a key distinction that continues to hold true is the severity of the declines in the worst performing markets compared to the modest gains in the best performing markets. While Tucson rents are growing at a 5% rate over the past year, no other market tops 3%. Meanwhile, all of the bottom 5 performing markets have seen rents fall by 5% or more in the past year, and 13 markets have seen rents fall by at least 3%. The negative skew is driving the national declines and the underperformance in most regions of the country.

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Picture of Chris Nebenzahl
Chris Nebenzahl
Chris Nebenzahl is the Director of Economic Research at Radix, where he oversees all macroeconomic and multifamily market analysis. Chris has 15 years of multifamily experience in data analytics, research, asset management and acquisitions. Prior to his time in the multifamily industry Chris was a portfolio manager at Bank of New York, focusing in the government and commercial fixed income sectors.
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