Vacancy in the Inland Empire apartment market has run in the neighborhood of 3.0% since early 2014. The rate in the fourth quarter of 2017 was 3.3%, up 40 basis points for the period and up 80 for the year following a decline by 50 through 2016. No change followed in January 2018. Asking and effective average rents grew by 5.2% and 5.1%, respectively, in 2016. In 2015, the increases were greater still. While a slowing is indicated for 2017, growth remains substantial. At $1,299 and $1,250 per month, asking and effective averages were up 2.7% and 1.7% for the year. Growth rates in the fourth quarter alone were negative at 0.1% and 0.2%. January 2018 followed with gains of 0.4% for both averages.