{"id":4146,"date":"2022-06-08T12:40:42","date_gmt":"2022-06-08T12:40:42","guid":{"rendered":"https:\/\/www.yardimatrix.com\/blog\/?p=4146"},"modified":"2023-09-13T11:00:00","modified_gmt":"2023-09-13T11:00:00","slug":"multifamily-gains-continue-in-may-yardi-matrix-reports","status":"publish","type":"post","link":"https:\/\/www.yardimatrix.com\/blog\/multifamily-gains-continue-in-may-yardi-matrix-reports\/","title":{"rendered":"Multifamily Gains Continue in May, Yardi Matrix Reports"},"content":{"rendered":"\n

Average U.S. asking rents increased another $19 in May to an all-time high $1,680<\/em><\/em><\/p>\n\n\n\n

SANTA BARBARA, Calif., June 08, 2022<\/strong> \u2013 Multifamily performance continues to outpace every year other than 2021, according to the latest Yardi\u00ae Matrix Multifamily Report.<\/a><\/strong><\/p>\n\n\n\n

Average U.S. asking rent rose $19 in May to an all-time high of $1,680. Year-over-year growth decelerated by 40 basis points to 13.9 percent. That\u2019s 130 basis points off the peak in summer 2021, but still exceptional performance, according to Matrix analysts.<\/p>\n\n\n\n

\u201cDecelerating economic growth and concerns about gas prices and inflation have not eroded multifamily demand much nor slowed down the upward climb of rents,\u201d say Matrix analysts.<\/p>\n\n\n\n

Rent growth in recent months is consistently a bit less than it was in 2021, but considerably above any previous year and spread across the country. Rent growth rose at least 10 percent year-over-year in 26 of Yardi\u2019s top 30 metros.<\/p>\n\n\n\n

The biggest gains were recorded in rapidly growing Sun Belt metros. Miami, Orlando and Tampa are all above 20 percent growth year-over-year. The Twin Cities, at 5.2 percent year-over-year, was the only metro in the Matrix top 30 with rent growth below 8.7 percent.<\/p>\n\n\n\n

Meanwhile, the average single-family home asking rent also increased by $19 in May to $2,038, as year-over-year growth dropped by 70 basis points to 12.7 percent. The single-family rental sector is expected to continue to ride strong demand, especially as home sales slow due to higher interest rates.<\/p>\n\n\n\n

Learn more in the latest multifamily report.<\/a><\/strong><\/p>\n\n\n\n

Yardi Matrix offers the industry\u2019s most comprehensive market intelligence tool for investment professionals, equity investors, lenders and property managers who underwrite and manage investments in commercial real estate. Yardi Matrix covers multifamily, student housing, industrial, office and self storage property types. Email matrix@yardi.com<\/a>, call (480) 663-1149 or visit yardimatrix.com<\/a> to learn more.<\/p>\n\n\n\n

About Yardi<\/strong><\/p>\n\n\n\n

Yardi\u00ae develops and supports industry-leading investment and property management software for all types and sizes of real estate companies. With 8,000 employees, Yardi is working with our clients globally to drive significant innovation in the real estate industry. For more information on how Yardi is Energized for Tomorrow, visit yardi.com<\/a>.<\/p>\n\n\n\n

<\/div>\n","protected":false},"excerpt":{"rendered":"

Average U.S. asking rents increased another $19 in May to an all-time high $1,680 SANTA BARBARA, Calif., June 08, 2022 \u2013 Multifamily performance continues to outpace every year other than 2021, according to the latest Yardi\u00ae Matrix Multifamily Report. Average U.S. asking rent rose $19 in May to an all-time high of $1,680. Year-over-year growth […]<\/p>\n","protected":false},"author":650,"featured_media":4147,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_jetpack_memberships_contains_paid_content":false,"footnotes":""},"categories":[28,29],"tags":[],"class_list":["post-4146","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-news","category-press-releases"],"yoast_head":"\nMultifamily Gains Continue in May, Yardi Matrix Reports - Yardi Matrix Blog<\/title>\n<meta name=\"description\" content=\"Multifamily performance continues to outpace every year other than 2021, according to the latest Yardi\u00ae Matrix Multifamily Report.\" \/>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/www.yardimatrix.com\/blog\/multifamily-gains-continue-in-may-yardi-matrix-reports\/\" \/>\n<meta property=\"og:locale\" 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