Yardi Matrix: single-family build-to-rent occupancy steady at 94.9% in October

Occupancy at single-family build-to-rent communities of 50 or more homes held at 94.9% in October, unchanged from September and up 10 basis points from a year earlier, according to Yardi Matrix data reported by CRE Daily. The average asking rent was $2,247, down $4 from September and up 1.1% year over year. Renter-by-necessity communities ran at 96.9% occupancy with 2.6% rent growth, compared with 94.6% and 0.8% for lifestyle communities, and Miami led rent growth at 5.6% while San Antonio fell 5.5%.