Resident retention rate of multifamily companies in the U.S. 2021-2023
The average retention rate of multifamily companies in the United States declined slightly in 2023. In that year, the retention rate was 56 percent, down from 57 percent in the previous year. In 2021, the retention rate was even lower, at 54 percent. High customer turnover results in various costs, such as missed rent and repair costs.