Multifamily rental market conditions are reported at two levels: Rental rates and concessions; and market occupancy. These components of the Rental Market are surveyed, and reported, as:
Rental Rate Reporting
Rental rates are gathered as a prospective renter by telephone survey, then reported in both Actual, and Market Rate, formats. The market rate is an actual rate, adjusted to apply an apples-to-apples comparison. For a definition of the Market Rental rate, click on How We Define Rental Rates
Rental rate concessions are gathered as a prospective renter, by telephone survey, and are representative of promotional offerings made available to prospective residents at the time a survey was completed. When complete, surveys are tabulated to provide a representation of concessions in effect during the survey period.