Figures

Memphis Multifamily Figures - Q3 2024

November 1, 2024 3 Minute Read

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‒The Memphis multifamily market’s average occupancy rate remained level quarter-over-quarter, with more tenants favoring the Downtown submarket in the third quarter.
‒The national unemployment rate trended upward in the third quarter, helping support the Federal Reserve’s decision to cut rates in September.
‒The average monthly rent decreased 73 basis points quarter-over-quarter to $1,216, largely attributed to the Class A properties decreasing 115 basis points from the previous period.