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 4.7% in the Memphis metro
- Vacancy in the Memphis metro drifted upward by 40 basis points.
- The Memphis metro had the highest vacancy level since year-end 2021.
Distribution / Warehousing
The average Vacancy Rate was 5.9% in the Memphis metro
Flex / R&D
The average Vacancy Rate was 6.2% in the Memphis metro
Office
The average Vacancy Rate was 22.3% in the Memphis metro
Retail
The average Vacancy Rate was 12.6% in the Memphis metro
- Vacancy in the Memphis metro drifted downward by 10 basis points.
- The Memphis metro had the lowest vacancy level since year-end 2021.
RENT
Apartment
The average Asking Rent was $1,100 in the Memphis metro
Distribution / Warehousing
The average Asking Rent was $3.95 in the Memphis metro
- Rent in the Memphis metro was up 0.5% from Q3 2023.
- Rent has risen in every quarter since Q3 2019 in the Memphis metro.
Flex / R&D
The average Asking Rent was $7.11 in the Memphis metro
- Rent in the Memphis metro was up 0.4% from Q3 2023.
- Rent has risen in every quarter since Q1 2020 in the Memphis metro.