US rental occupancy nearing record high, according to RealPage

Much of the new development supply is geared toward luxury, doing little for middle-market pricing
  • Rental occupancy continues on a steady upward pace.
  • There are 555,121 units underway across the nation’s 100 largest metros, forecasted to finalize at peak volume midway through 2017.
  • San Francisco rents dropped 0.2 percent in the third quarter, contrary to past years' trends.
  • Austin is a top city for new development, with 7.4 percent annual inventory growth.

The current rental market shows striking similarities to the year 2000, according to RealPage’s Q3 report, which shows U.S. rental occupancy at 96.5 percent and growing closer to the peak of 96.8 percent posted 16 years ago.