Demand for apartments hit a high not seen in five years as a shortage of affordable homes has locked an increasing number of Americans out of the market. According to recent data from RealPage, the national occupancy rate rose to 95.8% from 95.4% last year. (Housing Wire, 7/2/2019)
East Orange Market Facts
The following East Orange market information is sourced from CoStar, the world’s leading source of information on the commercial real estate market.
- Apartment occupancy rate in East Orange is 96.7%, which is just a fraction less than the 10-year high in East Orange and nearly 1% higher than the national average.
- Rents are increasing at a rate of 2.3%/year.
- Average rents, as of this writing, are:
- Rents have been on a virtually continuous rise since 2000.