The Connecticut apartment market – which includes Hartford, Bridgeport/Stamford/Norwalk, New Haven and Norwich/New London – has put up consistently strong occupancy rates but slowing rent growth levels.
Which individual apartment metro topped the list for rent growth in year-ending second quarter of 2012? MPF Research reveals the top ten performers.
In 2011, Hartford kept pace with larger Northeast apartment markets like New York and Boston. Vacancies are few, and year-over-year rent growth topped 6 percent.
While Hartford never seems to get much attention, Connecticut’s capital ranks among the nation’s better-performing apartment markets right now.
Hartford has seen its apartment occupancy rate bounce back of late, with the number of vacancies dwindling. Rents aren’t yet back to their previous peak, but meaningful progress is being made.
Are the smaller secondary markets keeping pace with the major metros in 2010? Watch this episode of Apartment Market Dynamics to find out.