Chart of The Week – October 16th 2023

While most of the nation has seen a decline in rents and a contraction in occupancy leading to negative revenue per available unit (RevPAU), a few markets and submarkets have risen above the rest. Tucson and Chicago are among the best performing markets in the nation, so it is no surprise to see them well represented at the submarket level in terms of top performance. Chicago has been particularly impressive as 5 of the top 10 submarkets nationwide for annual RevPAU growth are in the Windy City. Also worth noting, suburban submarkets are far outpacing their urban counterparts in terms of RevPAU performance.