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Urban Core Joining The Multifamily Surge

This report covers how urban multifamily properties in the U.S. are performing mid-year 2021. 

Key findings include: 

  • Concessions are falling and occupancies and rents are rising across the nation. 

  • Among urban core counties, revenue per available square foot (“RevPAF”) has recovered the most in B and C product categories, the South, Midwest and in secondary and tertiary markets. 

  • RevPAF has recovered to pre-pandemic levels in Chicago and is on track to do so soon in Boston, Los Angeles and Washington, DC. San Francisco and New York still have a way to go but are turning the corner. 



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