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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)

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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