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These 10 US Markets Posted the Smallest Declines in Multifamily Investment Activity Last Year

Year-Over-Year US Apartment Investment Fell 63%
Chicago’s 492-unit tower at 727 W. Madison St. sold for nearly $232 million, or about $470,000 per unit, in August 2023. It posted a 5.1% year-over-year rent growth rate at the time of sale. (CoStar)
Chicago’s 492-unit tower at 727 W. Madison St. sold for nearly $232 million, or about $470,000 per unit, in August 2023. It posted a 5.1% year-over-year rent growth rate at the time of sale. (CoStar)
CoStar Analytics
March 8, 2024 | 9:53 P.M.

Investment levels in U.S. multifamily assets plunged over the past 12 months. Sales of multifamily properties across the nearly 400 U.S. markets tracked by CoStar dropped by 61%, multifamily sales in the top 50 markets tanked by 63%. However, as is always the case, some markets weathered the storm better than others.

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