The market’s annual rent growth rate was below the national average of 2.4%.
The market’s occupancy rate decreased from 94.5% in 1Q23 to 94.1% in 2Q23.
Since 4Q01, the market’s annual effective rent growth has averaged 3.1%.
The market’s occupancy rate has averaged 93.1% since 4Q01.
Market Performance:
Effective rent increased 1.1% from $1,144 in 1Q23 to $1,158 in 2Q23, which resulted in an annual growth rate of 0.1%. Annual effective rent growth has averaged 3.1% since 4Q01. The market’s annual rent growth rate was below the national average of 2.4%. Out of the 268 markets ranked by nationally, Clarksville, TN was 145th for quarterly effective rent growth, and 235th for annual effective rent growth for 2Q23. The market’s occupancy rate decreased from 94.5% in 1Q23 to 94.1% in 2Q23, and was down from 97.7% a year ago. The market’s occupancy rate was below the national average of 94.7% in 2Q23. The market’s occupancy rate has averaged 93.1% since 4Q01.
