{"id":4687,"date":"2022-09-09T09:13:23","date_gmt":"2022-09-09T09:13:23","guid":{"rendered":"https:\/\/www.yardimatrix.com\/blog\/?p=4687"},"modified":"2023-09-13T05:18:39","modified_gmt":"2023-09-13T05:18:39","slug":"august-2022-inland-empire-multifamily-market-report","status":"publish","type":"post","link":"https:\/\/www.yardimatrix.com\/blog\/august-2022-inland-empire-multifamily-market-report\/","title":{"rendered":"[August 2022] Inland Empire Multifamily Market Report"},"content":{"rendered":"\n<h2 class=\"wp-block-heading\">Logistics Sector Drives Improvement<\/h2>\n\n\n\n<p>The Inland Empire has seen<strong> extensive improvement in its industrial real estate sector<\/strong>, but <strong><a href=\"https:\/\/www.yardimatrix.com\/blog\/inland-empire-multifamily-market-report-march-2022\/\">multifamily has been equally hot lately<\/a><\/strong>. As Southern California\u2019s most affordable market, continued population increases\u2014nearly 350,000 residents added in the past decade\u2014coupled with the rise of logistics, have pushed up housing demand. <strong>Rent development was at 1.2% <\/strong>on a trailing three-month basis as of June, just above the U.S. figure, while the average stood at $2,164, well above the $1,706 U.S. rate.<\/p>\n\n\n\n<p><strong>Employment gains in Riverside and San Bernardino counties<\/strong> were also solid, up 6.2% year-over-year as of May, outpacing national improvement by 150 basis points. The market\u2019s proximity to major shipping hubs, namely the ports of Los Angeles and Long Beach, has turned logistics into the area\u2019s main economic driver. What\u2019s more, continued increases in e-commerce and some easing of supply-chain disruptions have pushed the Inland Empire to lead the nation in industrial rent growth and average vacancy.<\/p>\n\n\n\n<p><strong>Demand has boosted investment to unprecedented levels<\/strong>, with nearly $3.2 billion in multifamily assets trading in the Inland Empire in the 12 months ending in June. Meanwhile, development remained typically modest, with only 184 units delivered in the first half of 2022 and a little more than 4,000 units under construction as of June.<\/p>\n\n\n\n<p>Read the full <a href=\"https:\/\/www.yardimatrix.com\/publications\/download\/file\/2663-MatrixMultifamilyInlandEmpireReport-August2022\"><strong>Matrix Multifamily Inland Empire Report-August 2022<\/strong><\/a><\/p>\n\n\n\n<div style=\"height:45px\" aria-hidden=\"true\" class=\"wp-block-spacer\"><\/div>\n","protected":false},"excerpt":{"rendered":"<p>Logistics Sector Drives Improvement The Inland Empire has seen extensive improvement in its industrial real estate sector, but multifamily has been equally hot lately. As Southern California\u2019s most affordable market, continued population increases\u2014nearly 350,000 residents added in the past decade\u2014coupled with the rise of logistics, have pushed up housing demand. Rent development was at 1.2% [&hellip;]<\/p>\n","protected":false},"author":650,"featured_media":4689,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_jetpack_memberships_contains_paid_content":false,"footnotes":""},"categories":[12,5,4],"tags":[111,444],"class_list":["post-4687","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-metro-reports","category-multifamily-market","category-real-estate-trends","tag-inland-empire","tag-multifamily-outlook-2022"],"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>[August 2022] Inland Empire Multifamily Market Report - Yardi Matrix Blog<\/title>\n<meta name=\"description\" content=\"The Inland Empire has seen extensive improvement in its industrial real estate sector, but multifamily has been equally hot lately.\" \/>\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\/august-2022-inland-empire-multifamily-market-report\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"[August 2022] Inland Empire Multifamily Market Report\" \/>\n<meta property=\"og:description\" content=\"The Inland Empire has seen extensive improvement in its industrial real estate sector, but multifamily has been equally hot lately.\" \/>\n<meta property=\"og:url\" content=\"https:\/\/www.yardimatrix.com\/blog\/august-2022-inland-empire-multifamily-market-report\/\" \/>\n<meta property=\"og:site_name\" content=\"Yardi Matrix Blog\" \/>\n<meta property=\"article:published_time\" content=\"2022-09-09T09:13:23+00:00\" \/>\n<meta property=\"article:modified_time\" content=\"2023-09-13T05:18:39+00:00\" \/>\n<meta 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