Apartment Market Rankings: Q2 2020

 

 

The stress of the COVID-19 crisis is starting to show in apartment markets: asking and effective rents both fell by 0.4% at the national level in the second quarter, traditionally a very strong quarter for leasing. In some markets like San Francisco, effective rents fell by 3.3% between Q1 2020 and Q2 2020 – that’s the largest quarterly decline on record since the third quarter of 2001, and back then San Francisco was reeling from the one-two punch of the tech market crash and the September 11 attacks.


 

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