The apartment sector showed resounding strength throughout 2021 with record-setting national rent gains and outsized absorption totals. The lack of available housing has propelled pricing for both single-family and rental apartment units. With renters searching for affordability in the wake of COVID-19, secondary and tertiary markets and suburban communities welcomed new residents. Apartment investment activity has been robust in the United States during 2021. From April to September, transactions grew at triple-digit rates, rebounding from the abnormally low levels in 2020. Eviction moratoriums were extended through 2021 until August, though some markets still protect renters, including New York, New Jersey, New Mexico, and California.