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Average Rental Rate
Reflects the average price tenants pay, providing insight into pricing power, market demand, and revenue potential per unit.Average rental rates recovered from pandemic lows and flattened through 2024, then experienced a pronounced mid‑2025 spike and year‑end normalization; early‑2026 shows a modest rebound tied to high occupancy, materially lower concessions and management’s view of sharply reduced 2026 deliveries supporting pricing. However, momentum is concentrated in gateway markets (San Francisco, New York) while Boston, Seattle and newer expansion markets lag, so portfolio‑level rate gains are likely to be steady but uneven and vulnerable to localized demand or regulatory headwinds.
Date | Average Rental Rate |
|---|---|
Jun 30, 2026 | $3.14K |
Mar 31, 2026 | $3.09K |
Dec 31, 2025 | $3.09K |
Sep 30, 2025 | $3.22K |
Jun 30, 2025 | $3.19K |
Mar 31, 2025 | $3.07K |
Dec 31, 2024 | $3.06K |
Sep 30, 2024 | $3.06K |
Jun 30, 2024 | $3.09K |
Mar 31, 2024 | $3.06K |