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Top Ten Apartment Market Rent Growth Leaders for Third Quarter 2012

Michael Cunningham
by on October 4, 2012


A cafe in Santana Row in San Jose California

When MPF Research releases its quarterly research numbers for the U.S. apartment market, I look forward to finding out which metro secures the top spot for rent growth. During the past few quarters, the top spot has been held by one of two metros: San Jose or San Francisco.

It’s the apartment market equivalent of a great sports rivalry or the quarterly version of the USA Today College Football poll.

So who came out on top for the third quarter of 2012? Let’s get to the box score:

Rent Growth Leaders in Year-Ending 3Q 2012
Rank Metro Annual
Rent
Growth
1 San Jose 8.0%
2 San Francisco 7.5%
3 Oakland 6.7%
4 (Tie) Charlotte 6.3%
4 (Tie) New York 6.3%
6 (Tie) Columbus 6.1%
6 (Tie) Hartford 6.1%
8 Denver-Boulder 6.0%
9 Houston 5.5%
10 Nashville 5.1%

 

And San Jose is back on top after ceding the top spot to San Francisco last quarter. However, even in these top-of-the-chart markets, the pace of rent growth has cooled notably. Annual rent growth peaked in late 2011 at 13.2 percent in San Jose and at 14.6 percent in San Francisco.

Other major markets performing well but not enough to push them into the top 10 were Boston (4.9%), Portland (4.8%), Austin (4.6%), and San Antonio (4.5%).

For additional information and research about the performance of the U.S. apartment market during the third quarter of 2012, visit the following resources:

 

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