{"id":4334,"date":"2022-07-14T08:16:29","date_gmt":"2022-07-14T08:16:29","guid":{"rendered":"https:\/\/www.yardimatrix.com\/blog\/?p=4334"},"modified":"2023-09-13T09:06:59","modified_gmt":"2023-09-13T09:06:59","slug":"multifamily-rents-rise-again-in-june","status":"publish","type":"post","link":"https:\/\/www.yardimatrix.com\/blog\/multifamily-rents-rise-again-in-june\/","title":{"rendered":"Multifamily Rents Rise Again in June, Yardi Matrix Reports"},"content":{"rendered":"\n

Average U.S. asking rent increased by $19 last month, reaching new high of $1,706<\/em><\/p>\n\n\n\n

SANTA BARBARA, Calif., July 14, 2022<\/strong> \u2013 Average U.S. multifamily rents rose another $19 in June to edge over $1,700 for the first time ever, according to the latest Yardi\u00ae Matrix Multifamily Report.<\/strong><\/a><\/p>\n\n\n\n

The increase was fueled by strong demand and rent growth throughout the country. Rent growth increased at least 10 percent year-over-year in 25 of Yardi\u2019s top 30 metros. National occupancy rates were solid at 96 percent.<\/p>\n\n\n\n

On a year-over-year basis, growth continues to slow down. In June, it decelerated by 50 basis points to 13.7 percent. That\u2019s 130 basis points off the February peak of 15.2 percent.<\/p>\n\n\n\n

Rents in the single-family build-to-rent (BTR) sector continue to grow as well. The average single-family BTR asking rent increased by $23 in June to an all-time high of $2,071. Year-over-year growth dropped by 90 basis points to 11.8 percent.<\/p>\n\n\n\n

\u201cThe multifamily market is starting to show signs of deceleration in June but is still performing at extremely high levels. Year-over-year rent growth was down 50 basis points from May. While rent growth in 2022 is still higher than any previous year on record, it is the fourth month in a row year-over-year rent growth declined,\u201d note Matrix analysts.<\/p>\n\n\n\n

The expectation for the remainder of 2022 is for rents to increase at slower rates as the economy cools off. \u201cInflation rates will take a while to ebb, causing consumers to cut into savings and their ability to afford increasing rental rates will lessen as the year goes on,\u201d states the latest report.<\/p>\n\n\n\n

Learn more in the latest multifamily report<\/strong>.<\/a><\/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 rent increased by $19 last month, reaching new high of $1,706 SANTA BARBARA, Calif., July 14, 2022 \u2013 Average U.S. multifamily rents rose another $19 in June to edge over $1,700 for the first time ever, according to the latest Yardi\u00ae Matrix Multifamily Report. The increase was fueled by strong demand and […]<\/p>\n","protected":false},"author":650,"featured_media":4336,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_jetpack_memberships_contains_paid_content":false,"footnotes":""},"categories":[28,29],"tags":[444,388],"class_list":["post-4334","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-news","category-press-releases","tag-multifamily-outlook-2022","tag-single-family-rental-sector"],"yoast_head":"\nMultifamily Rents Rise Again in June, Yardi Matrix Reports - Yardi Matrix Blog<\/title>\n<meta name=\"description\" content=\"Average U.S. multifamily rents rose another $19 in June to edge over $1,700 for the first time ever, 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\" 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