Insights

Mississippi

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Market Overview

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EXPLORE 2 Mississippi MARKETSToggle markets

Baton Rouge
Memphis

Baton Rouge

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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.

Learn more about the Mississippi markets from one of our professionals

Learn more about the Mississippi markets from one of our professionals.

Memphis

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VACANCY

Apartment

The average Vacancy Rate was 4.9% in the Memphis metro

No vacancy change since Q1 2024 in the Memphis metro.
The Memphis metro had the highest vacancy level since Q3 2019.
Vacancy is expected to finish 2024 at 5.0% in the Memphis metro.

Distribution / Warehousing

The average Vacancy Rate was 8.1% in the Memphis metro

Vacancy in the Memphis metro rose by 120 basis points.
Vacancy is expected to finish 2024 at 8.1% in the Memphis metro.

Flex / R&D

The average Vacancy Rate was 12.1% in the Memphis metro

Vacancy in the Memphis metro increased by 590 basis points.
The Memphis metro was among the 10 highest vacancies nationally.
Vacancy is expected to finish 2024 at 11.3% in the Memphis metro.

Office

The average Vacancy Rate was 23.1% in the Memphis metro

Vacancy in the Memphis metro increased by 80 basis points.
The Memphis metro was among the 20 highest vacancies nationally.
Vacancy is expected to finish 2024 at 23.8% in the Memphis metro.

Retail

The average Vacancy Rate was 12.9% in the Memphis metro

No vacancy change since Q1 2024 in the Memphis metro.
The Memphis metro was among the 20 highest vacancies nationally.
Vacancy is expected to finish 2024 at 12.9% in the Memphis metro.

RENT

Apartment

The average Asking Rent was $1,095 in the Memphis metro

Rent in the Memphis metro was up 0.2% from Q1 2024.
Rent is expected to finish 2024 at $1,103 in the Memphis metro.

Distribution / Warehousing

The average Asking Rent was $3.99 in the Memphis metro

Rent in the Memphis metro was up 0.5% from Q1 2024.
Rent has risen in every quarter since Q3 2019 in the Memphis metro.
Rent is expected to finish 2024 at $4.08 in the Memphis metro.

Flex / R&D

The average Asking Rent was $7.19 in the Memphis metro

Rent in the Memphis metro was up 0.6% from Q1 2024.
Rent has risen in every quarter since Q1 2020 in the Memphis metro.
Rent is expected to finish 2024 at $7.33 in the Memphis metro.

Office

The average Asking Rent was $21.10 in the Memphis metro

Rent in the Memphis metro was down 0.3% from Q1 2024.
Rent is expected to finish 2024 at $21.23 in the Memphis metro.

Retail

The average Asking Rent was $14.52 in the Memphis metro

Rent in the Memphis metro was up 0.2% from Q1 2024.
Memphis metro had its fastest rent rate of increase three years.
Rent Has risen for six consecutive quarters in the Memphis metro.

Learn more about the Mississippi markets from one of our professionals

Learn more about the Mississippi markets from one of our professionals.