Insights
Mississippi
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VACANCY
Distribution / Warehousing
Average Vacancy Rate 17.7%
- Second highest in the nation. Only Augusta is currently softer.
- Fell by 140 basis points.
- Expected to finish 2019 at.
RENT
Distribution / Warehousing
Average Asking Rent $5.57
- Down 0.2% from year-end 2018.
- Expected to finish 2019 at.
VACANCY
Apartment
The average Vacancy Rate was 5.2% in the Memphis metro
- Vacancy in the Memphis metro drifted upward by 30 basis points.
- The Memphis metro had the highest vacancy level since Q2 2018.
- Vacancy is expected to finish 2024 at 5.1% in the Memphis metro.
Distribution / Warehousing
The average Vacancy Rate was 7.9% in the Memphis metro
- Vacancy in the Memphis metro drifted downward by 10 basis points.
- Vacancy is expected to finish 2024 at 8.1% in the Memphis metro.
Flex / R&D
The average Vacancy Rate was 10.5% in the Memphis metro
- Vacancy in the Memphis metro fell by 160 basis points.
- The Memphis metro was among the 10 highest vacancies nationally.
- Vacancy is expected to finish 2024 at 9.8% in the Memphis metro.
Office
The average Vacancy Rate was 21.6% in the Memphis metro
- Vacancy in the Memphis metro fell by 150 basis points.
- The Memphis metro had the lowest vacancy level since Q1 2010.
- Vacancy is expected to finish 2024 at 22.2% in the Memphis metro.
Retail
The average Vacancy Rate was 12.6% in the Memphis metro
- Vacancy in the Memphis metro drifted downward by 30 basis points.
- The Memphis metro was among the 20 highest vacancies nationally.
- Vacancy is expected to finish 2024 at 12.8% in the Memphis metro.
RENT
Apartment
The average Asking Rent was $1,098 in the Memphis metro
- Rent in the Memphis metro was up 0.2% from Q2 2024.
- Rent is expected to finish 2024 at $1,100 in the Memphis metro.
Distribution / Warehousing
The average Asking Rent was $4.06 in the Memphis metro
- The Memphis metro had the second fastest rent growth in the nation, behind only Milwaukee.
- Memphis metro had its fastest rent rate of increase in five quarters.
- Rent has risen in every quarter since Q3 2019 in the Memphis metro.
Flex / R&D
The average Asking Rent was $7.26 in the Memphis metro
- Rent in the Memphis metro was up 1.0% from Q2 2024.
- Memphis metro had its fastest rent rate of increase in five quarters.
- Rent has risen in every quarter since Q1 2020 in the Memphis metro.
Office
The average Asking Rent was $21.07 in the Memphis metro
- Rent in the Memphis metro was down 0.1% from Q2 2024.
- Rent is expected to finish 2024 at $21.18 in the Memphis metro.
Retail
The average Asking Rent was $14.59 in the Memphis metro
- Rent in the Memphis metro was up 0.6% from Q2 2024.
- Memphis metro had its fastest rent rate of increase since Q1 2019.
- Rent Has risen for seven consecutive quarters in the Memphis metro.