Arkansas’s multifamily rental prices have been increasing over the last year, with a significant rise from January 2022 to January 2023. The data comes from Beekin’s Recent Movers Rental Price Indices, which provide updated and reliable information on US multifamily and single-family rental pricing trends.
Beekin’s data shows a 10.2% increase in apartment rental prices from January 2022 to January 2023, indicating a strong upward trend in Arkansas’s multifamily rental housing sector. Furthermore, the indices also report a 1.7% month-on-month change from December 2022 to January 2023, suggesting that the state’s rental market is currently flourishing.
Arkansas’s quarter-on-quarter (QOQ) multifamily rent price change from Q1 2015 to Q4 2022 reveals interesting trends.
In the early stages of the indices, Arkansas faced some challenges with decreasing rental prices. Between Q2 2015 and Q4 2017, Arkansas experienced a steady decline in multifamily rental prices. However, this trend changed in Q1 2018, as rental prices began to trend upward. From Q3 2018 to Q1 2020, multifamily rents in Arkansas again dropped. But since Q2 2020, Arkansas has seen a consistent increase in multifamily rental prices, with occasional minor dips.
The Q2 2022 to Q4 2022 data shows that the increase in rental prices is slowing down, with a decrease in the QOQ change. It remains to be seen whether this is a sign of a slowdown in the upward trend or merely a temporary fluctuation. However, overall the data suggests that Arkansas’s rental market is experiencing significant growth, with rental prices on an upward trajectory since 2018.
Rental housing developers, investors, operators, and lenders need to stay informed about these trends to make data-driven decisions about their investments and pricing strategies.
As a provider of revenue management software, rental automated valuation models, and rent price data, Beekin can help stakeholders in the rental housing industry stay up-to-date on the latest rental price trends and make informed decisions based on data. Whether you are a developer looking to invest in a new property, an operator looking to adjust rental prices, or a lender looking to assess risk, Beekin’s tools and data can help you make more accurate and profitable decisions.
Don’t miss out on the opportunity to optimize your rental pricing strategy with Beekin’s data and tools. Contact us today to learn more and get started.