A new study published by Mynd Management, a property management and real estate investment company, has ranked Stamford among the nation’s 20 healthiest rental housing markets.
The study measured metro area occupancy rate growths from the second quarter of 2019 through the second quarter of 2020. Stamford placed 13th nationally, with a 1.1% vacancy rate during the second quarter of this year, down 3.8% from a 5.5% vacancy rate recorded one year earlier.
Stamford was the only Connecticut metro on the list and only one of three northeastern markets among the top 20; Albany and Rochester placed 11th and 17th, respectively. Virginia’s capital Richmond topped the list, with a rental market vacancy rate that shrank from 13.6% in 2019’s second quarter to 2.7% in this year’s second quarter.
“In spite of the coronavirus pandemic, rental demand remains healthy and the national vacancy rate declined 1.1% year-over-year to 5.7% in the second quarter, said Doug Brien, co-founder and CEO of Mynd Management. “While some of these low vacancy rates can be attributed to metro areas with eviction moratoriums in place, we remain bullish on the rental housing sector.”