{"id":4510,"date":"2022-08-11T10:43:13","date_gmt":"2022-08-11T10:43:13","guid":{"rendered":"https:\/\/www.yardimatrix.com\/blog\/?p=4510"},"modified":"2023-09-13T08:57:14","modified_gmt":"2023-09-13T08:57:14","slug":"seattle-multifamily-market-report-july-2022","status":"publish","type":"post","link":"https:\/\/www.yardimatrix.com\/blog\/seattle-multifamily-market-report-july-2022\/","title":{"rendered":"Seattle Multifamily Market Report\u00a0\u2013 July 2022"},"content":{"rendered":"\n<h2 class=\"wp-block-heading\"><strong>Seattle\u2019s Improved Fundamentals<\/strong><\/h2>\n\n\n\n<p><strong><a href=\"https:\/\/www.yardimatrix.com\/blog\/seattle-housing-market-trends-february-2022\/\">Seattle\u2019s rental sector is well in recovery mode<\/a><\/strong>, as its fundamentals, talent pool and economy have buoyed the multifamily industry. Hence, growth was visible across metrics, as <strong>rents increased 1.4% <\/strong>on a trailing three-month basis through May, to $2,187, above the U.S. average, which rose 1.0% to $1,680. Occupancy in stabilized properties was driven by more activity in the working-class segment, up 120 basis points year-over-year through April, to 96.3%.<\/p>\n\n\n\n<p>As of April, <strong>Seattle\u2019s unemployment rate stood at 2.6%<\/strong>, marking a record low rate and leading the U.S. by 100 basis points. The employment market expanded 5.5% in the 12 months ending in March, or 98,600 jobs, 100 basis points above the national rate. With leisure and hospitality still on the mend, nearly one-third of all jobs were added in the sector. Professional and business services and trade, transportation and utilities\u2014Seattle\u2019s largest sectors\u2014were next in line and are poised for sustained growth, as large companies continue to expand in the metro, more so than before the pandemic, including mainstays like  Amazon, Meta and Microsoft.<\/p>\n\n\n\n<p><strong>Developers delivered 4,027 units in 2022 through May<\/strong> and had another 27,000 under construction. Meanwhile, investors traded nearly $1.7 billion in multifamily assets, for a price per unit that rose 10.3% in 2022.<\/p>\n\n\n\n<p>Read the full <strong><a href=\"https:\/\/www.yardimatrix.com\/publications\/download\/file\/2525-MatrixMultifamilySeattleReport-July2022\">Matrix Multifamily Seattle Report-July 2022<\/a><\/strong><\/p>\n\n\n\n<div style=\"height:45px\" aria-hidden=\"true\" class=\"wp-block-spacer\"><\/div>\n","protected":false},"excerpt":{"rendered":"<p>Seattle\u2019s Improved Fundamentals Seattle\u2019s rental sector is well in recovery mode, as its fundamentals, talent pool and economy have buoyed the multifamily industry. Hence, growth was visible across metrics, as rents increased 1.4% on a trailing three-month basis through May, to $2,187, above the U.S. average, which rose 1.0% to $1,680. Occupancy in stabilized properties [&hellip;]<\/p>\n","protected":false},"author":650,"featured_media":4511,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_jetpack_memberships_contains_paid_content":false,"footnotes":""},"categories":[12,5,4],"tags":[444,468],"class_list":["post-4510","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-metro-reports","category-multifamily-market","category-real-estate-trends","tag-multifamily-outlook-2022","tag-seattle"],"yoast_head":"<!-- This site is optimized with the Yoast SEO Premium plugin v23.4 (Yoast SEO v24.6) - https:\/\/yoast.com\/wordpress\/plugins\/seo\/ -->\n<title>Seattle Multifamily Market Report\u00a0\u2013 July 2022 - Yardi Matrix Blog<\/title>\n<meta name=\"description\" content=\"Seattle\u2019s rental sector is well in recovery mode, as its fundamentals, talent pool and economy have buoyed the multifamily industry.\" \/>\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\/seattle-multifamily-market-report-july-2022\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"Seattle Multifamily Market Report\u00a0\u2013 July 2022\" \/>\n<meta property=\"og:description\" content=\"Seattle\u2019s rental sector is well in recovery mode, as its fundamentals, talent pool and economy have buoyed the multifamily industry.\" \/>\n<meta property=\"og:url\" content=\"https:\/\/www.yardimatrix.com\/blog\/seattle-multifamily-market-report-july-2022\/\" \/>\n<meta property=\"og:site_name\" content=\"Yardi Matrix Blog\" \/>\n<meta property=\"article:published_time\" content=\"2022-08-11T10:43:13+00:00\" \/>\n<meta property=\"article:modified_time\" content=\"2023-09-13T08:57:14+00:00\" \/>\n<meta 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