How We Define The Apartment Rental Market

The Rental Market, as measured by Pierce-Eislen, can be defined at both the micro, and macro, levels. A Macro view of the market illustrates rental rates, rental rate concessions offered to attract renters at the time of rent surveys and market occupancy in markets where occupancy is made available.

Measurement of rentals rates and rental rate concessions is surveyed three times annually. Market occupancy is measured either twice annually, or quarterly, dependent on survey timing in markets which occupancy is made available. The Micro level reporting can apply to: A property's Competitive Cluster – as defined by a radius; a submarket, or; the metropolitan area. Each definition can extend to discrete illustration of rental rates according to:

  • Unit type
  • Property age range
  • Property improvements rating
  • Location rating
  • Any combination of the above