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 4.1% in the Memphis metro
- No vacancy change since Q3 2022 in the Memphis metro.
- The Memphis metro had the lowest vacancy level since Q2 1998.
Distribution / Warehousing
The average Vacancy Rate was 8.5% in the Memphis metro
- Vacancy in the Memphis metro drifted downward by 10 basis points.
- The Memphis metro had the lowest vacancy level since Q3 2009.
Flex / R&D
The average Vacancy Rate was 7.7% in the Memphis metro
- No vacancy change since Q3 2022 in the Memphis metro.
- The Memphis metro had the lowest vacancy level since Q3 2009.
Office
The average Vacancy Rate was 23.9% in the Memphis metro
Retail
The average Vacancy Rate was 12.7% in the Memphis metro
RENT
Apartment
The average Asking Rent was $1,085 in the Memphis metro
Distribution / Warehousing
The average Asking Rent was $3.75 in the Memphis metro
- Rent in the Memphis metro was up 2.5% from Q3 2022.
- Rent has risen in every quarter since Q3 2019 in the Memphis metro.
Flex / R&D
The average Asking Rent was $6.85 in the Memphis metro
- Rent in the Memphis metro was up 1.2% from Q3 2022.
- Rent Has risen for eleven consecutive quarters in the Memphis metro.
Office
The average Asking Rent was $20.89 in the Memphis metro
- Rent in the Memphis metro was up 0.8% from Q3 2022.
- Memphis metro had its fastest rent rate of increase in four quarters.