Tag #Apartment Turnover

What are the primary factors contributing to the unusually low turnover rate among apartment renters in major urban areas, and what are the immediate consequences for landlords?

Apartment renter turnover in large urban markets is significantly lower than usual, with some landlords reporting only 30% turnover compared to the typical 50%. This is due to unaffordable home prices, limited rental supply, economic uncertainty, and high moving costs. Landlords are benefiting from higher renewal prices and reduced turnover expenses.