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Midwest and Mid-Priced Apartment Properties Finish 2023 as Rent Growth Leaders

Oversupply Conditions Impair Performance of Sun Belt and Luxury Properties
Apartments in the Midwest, such as this property in Kansas City, Missouri, performed the best in 2023 in terms of overall demand and rent growth compared to other parts of the country. (CoStar)
Apartments in the Midwest, such as this property in Kansas City, Missouri, performed the best in 2023 in terms of overall demand and rent growth compared to other parts of the country. (CoStar)
CoStar Analytics
December 20, 2023 | 3:26 P.M.

The multifamily sector rebounded strongly in 2023, recovering from a muted 2022 when demand even fell into negative territory in the fourth quarter.

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