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Demand for Mid-Priced Apartments Helps Stabilize Multifamily Market

Three-Star Properties Have the Largest Inventory of Units
The three-star Cypress Manor Apartments in Tampa, Florida, center, opened in 2021 and has an average asking rent of $1,748 per month, according to CoStar data. (CoStar)
The three-star Cypress Manor Apartments in Tampa, Florida, center, opened in 2021 and has an average asking rent of $1,748 per month, according to CoStar data. (CoStar)
CoStar Analytics
March 27, 2024 | 7:02 P.M.

Demand for mid-priced apartments rebounded in 2023 as rising consumer confidence, lower inflation, strong wage growth and waning recession fears allowed renters in cheaper apartments, and those living in their parent's house, to upgrade their living space or form their own households.

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