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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