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RCG 17 Guide to Markets FINAL[1]

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SECTION 2 | METRO FORECAST SUMMARIES<br />

Cleveland Occupancy Rate His<strong>to</strong>ry and Forecast<br />

Souces: Reis, Inc. His<strong>to</strong>ry and RCR Forecasts<br />

RED 49 Occupancy Rate<br />

Cleveland Occupancy Rate<br />

99%<br />

98%<br />

97%<br />

96.7%<br />

96.3%<br />

96.5% 96.8%<br />

97.1%<br />

97.6%<br />

96%<br />

95%<br />

94%<br />

93%<br />

4Q13 4Q14<br />

4Q15 4Q16 4Q<strong>17</strong> 4Q18 4Q19 4Q20 4Q21 4Q22<br />

Cleveland Rent Growth His<strong>to</strong>ry and Forecast<br />

Souces: Reis, Inc. His<strong>to</strong>ry and RCR Forecasts<br />

RED 49 Year-On-Year Rent Growth<br />

Cleveland Year-On-Year Rent Growth<br />

7%<br />

6%<br />

5%<br />

4%<br />

3%<br />

2.8%<br />

2.3%<br />

2.3%<br />

1.9%<br />

1.9%<br />

2.2%<br />

2%<br />

1%<br />

0%<br />

4Q13 4Q14<br />

4Q15 4Q16 4Q<strong>17</strong> 4Q18 4Q19 4Q20 4Q21 4Q22<br />

Cleveland Payroll Job His<strong>to</strong>ry and Forecast<br />

Souces: BLS His<strong>to</strong>ry and RCR Forecasts<br />

RED 49 Year-On-Year Payroll Growth<br />

Cleveland Year-On-Year Payroll Job Growth<br />

3.0%<br />

2.5%<br />

2.0%<br />

1.5%<br />

1.0%<br />

0.5%<br />

0.6% 0.6%<br />

0.5%<br />

0.1%<br />

0.3%<br />

0.9%<br />

0.0%<br />

4Q13 4Q14<br />

4Q15 4Q16 4Q<strong>17</strong> 4Q18 4Q19 4Q20 4Q21 4Q22<br />

33

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