This analysis looks at current rental growth trends for twelve markets across Texas , Arizona , Georgia , Tennessee , North Carolina , and Florida .
Occupancy
September renewed the slide in occupancy levels in all markets except in San Antonio , where occupancy improved by a miniscule 10 basis points , and in Phoenix-Tucson , where occupancy moved ahead by 50 points . Jacksonville now has the dubious distinction of having the largest occupancy drop of the twelve metros listed in Figure A , at 5.7 %. The magnitude of occupancy decline lessens as you move from left to right on the graph , with Nashville holding its drop to 1.4 percentage points from the highs of 2021 to the most current reading of 91.2 % at the end of September 2023 . The yellow highlights draw attention to those metros with an average occupancy dropping below 90 %, a threshold that has historically been the point at which a market transitions from a ‘ Landlord Market ’ to a ‘ Renter Market .’
31 OCTOBER 2023 | WWW . SAAAONLINE . ORG