{"id":5440,"date":"2023-01-18T11:44:00","date_gmt":"2023-01-18T11:44:00","guid":{"rendered":"https:\/\/www.yardimatrix.com\/blog\/?p=5440"},"modified":"2024-03-12T16:11:46","modified_gmt":"2024-03-12T16:11:46","slug":"inland-empire-multifamily-market-report-december-2022","status":"publish","type":"post","link":"https:\/\/www.yardimatrix.com\/blog\/inland-empire-multifamily-market-report-december-2022\/","title":{"rendered":"Inland Empire Multifamily Market Report \u2013 December 2022"},"content":{"rendered":"\n<p class=\"has-normal-font-size\">Read the latest Yardi Matrix <strong><a href=\"\/blog\/inland-empire-multifamily-market-report\/\">Inland Empire Multifamily Market Report<\/a><\/strong>.<\/p>\n\n\n<hr \/>\n<h2>Inland Empire Stays Steady<\/h2>\n<p>The Inland Empire\u2019s rental market <a href=\"https:\/\/www.yardimatrix.com\/blog\/august-2022-inland-empire-multifamily-market-report\/\"><strong>continued to exhibit most of the same patterns<\/strong><\/a> established during the past decade, with\u00a0the only major curveball being an oscillation in rent growth on a trailing three-month basis. Rents in Riverside and San Bernardino counties were down 0.2% on a T3 basis as of October, while national rates saw a 0.2% uptick. However, rent development on a year-over-year basis was at a solid 7.7%, <strong>showcasing the heightened rate of improvement<\/strong> recorded at the end of 2021 and at the start of this year. The average occupancy rate in stabilized assets was down 100 basis points year-over-year, to 96.9%.<\/p>\n<p>The Inland Empire\u2019s economy is heavily reliant on its logistics sector, which added 32,400 jobs in the 12 months ending in August. Overall, employment growth totaled 89,300 new jobs, up 5.8% on a year-over-year basis, <strong>outpacing the national rate by 150 basis points<\/strong>. The metro\u2019s industrial sector had the lowest vacancy rate in the nation as of September, at 1.1%. Demand in the market is still very high, with a bustling pipeline driving further growth in the local economy, while leisure and hospitality\u2019s comeback also fueled job gains.<\/p>\n<p>Investment activity was solid, recording <strong>$1.7 billion through the year\u2019s first 10 months<\/strong>. Property values increased during that time, as activity included a large number of Lifestyle assets. Rent growth is moderating, with improvement at 3.8% for the year.<\/p>\n<p>Read the full <a href=\"https:\/\/www.yardimatrix.com\/publications\/download\/file\/3214-MatrixMultifamilyInlandEmpireReport-December2022\"><strong>Matrix Multifamily Inland Empire Report-December 2022<\/strong><\/a><\/p>\n\n\n<div style=\"height:45px\" aria-hidden=\"true\" class=\"wp-block-spacer\"><\/div>\n","protected":false},"excerpt":{"rendered":"<p>Inland Empire Stays Steady The Inland Empire\u2019s rental market continued to exhibit most of the same patterns established during the past decade, with\u00a0the only major curveball being an oscillation in rent growth on a trailing three-month basis. Rents in Riverside and San Bernardino counties were down 0.2% on a T3 basis as of October, while [&hellip;]<\/p>\n","protected":false},"author":753,"featured_media":5441,"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-5440","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>Inland Empire Multifamily Market Report \u2013 December 2022 - Yardi Matrix Blog<\/title>\n<meta name=\"description\" content=\"Although rents were down 0.2% on a T3 basis, they were up a significant 7.7% year-over-year, according to Yardi Matrix.\" \/>\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\/inland-empire-multifamily-market-report-december-2022\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"Inland Empire Multifamily Market Report \u2013 December 2022\" \/>\n<meta property=\"og:description\" content=\"Although rents were down 0.2% on a T3 basis, they were up a significant 7.7% year-over-year, according to Yardi Matrix.\" \/>\n<meta property=\"og:url\" content=\"https:\/\/www.yardimatrix.com\/blog\/inland-empire-multifamily-market-report-december-2022\/\" \/>\n<meta property=\"og:site_name\" content=\"Yardi Matrix Blog\" \/>\n<meta property=\"article:published_time\" content=\"2023-01-18T11:44:00+00:00\" \/>\n<meta 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