Memphis Multifamily Figures Q4 2023

February 13, 2024 3 Minute Read

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Key Takeaways


-The Memphis multifamily market's average rental rate remained level quarter-over-quarter at $1,223, compared to the average national rent falling 1.2% in the fourth quarter.


-Annual revenue change continued to trend downward at 0.7%, albeit at a slower rate than the previous quarters of 2023.


-Sales activity remained compressed in 2023, due to high cost of capital. However, with the federal fund rate expected to fall, additional transaction volume is predicted in 2024.