Vacancy decreased slightly in the 163,165-unit Suburban Maryland apartment market. The third quarter 2017 vacancy rate was 3.6%, down 20 basis points from the prior quarter and down 50 basis points from one year earlier. The rate is 3.8% as of November. The average asking rent and the average effective rent posted 0.4% and 0.5% gains in the third quarter of 2017 to $1,527 and $1,477 per month, respectively, which were up 2.2% and 2.1% over the year. November data show 0.2% and 0.3% losses for asking and effective rents.