Vacancy remained low in the 163,118-unit Suburban Maryland apartment market. The first quarter 2017 vacancy rate was 3.6%, down 30 basis points from the prior quarter and down 50 basis points from one year earlier. The rate is 3.6% as of April. The average asking rent and the average effective rent posted 0.4% and 0.3% gains in the first quarter of 2017 to $1,505 and $1,457 per month, respectively, which were up 2.5% and 2.4% over the year. April 2017 data show 0.3% and 0.2% gains for asking and effective rents.