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 4.9% 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.