Occupancy Rate

Occupancy rate is the percentage of total apartment units that are currently occupied. In multifamily operations, it is commonly calculated as occupied units ÷ total units × 100. It can be tracked for a single property or across a portfolio to understand how well leasing, renewals, and unit turns are keeping homes filled.

A 250-unit apartment community has 235 occupied units. Its occupancy rate is 235 ÷ 250 × 100 = 94%. If several leases are expiring next month, the operations team may focus on renewals, make-ready speed, and leasing follow-up to protect occupancy.

Occupancy rate is a core signal of property performance because occupied units support rental income and portfolio stability. For operations leaders, changes in occupancy can point to leasing issues, renewal risk, pricing pressure, or delays in preparing vacant units for new residents.