Apartment Vacancy Rate Declined in Q1

Effective Rents up 15.6% Year-over-year

Reis reported that the apartment vacancy rate was at 4.7% in Q1 2022, down from 4.8% in Q4, and down from a pandemic peak of 5.4% in both Q1 and Q2 2021.

This graph shows the apartment vacancy rate starting in 1980. (Annual rate before 1999, quarterly starting in 1999).  Note: Reis is just for large cities.

Reis also reported the effective rents were up 2…