Split bar chart comparing year-over-year change in asking rent for middle tier and luxury and higher-end apartment buildings between Q4 2022 and 2023. Across the U.S., rent increased on average by 1.5% for middle tier buildings and decreased by 0.2% for higher-end buildings. The gap was largest in Indianapolis and Palm Beach, Fla. In Portland, asking rent for middle tier buildings decreased by 1.2% and by 3.5% for higher-end buildings.