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NOVATO, Calif. — Apartment rents and occupancy rates declined across the West and South as the recession cost tenants jobs and forced some to combine households.
The average monthly rent dropped to $993 in the three months ended Dec. 31 from $1,002 in the previous quarter, Novato-based RealFacts reported in a survey of 60 metropolitan areas. The occupancy rate fell to 92.2 percent from 92.9 percent.
