Annual Rent Growth is calculated using a same-store methodology and represents the annual growth rate of Average Rent for properties reporting rent data in both the current quarter and the same quarter a year ago. Meaning, the same properties are used to calculate current and previous quarter data, new properties are not included.
While the Average Rent figures used to calculate Annual Rent Growth are same-store, the Average Rent figures reported to clients through the client portal are not. Since the properties included in each data set vary, Annual Rent Growth cannot be replicated based on the reported Average Rent figures available to clients.