{"id":7336,"date":"2024-05-14T12:47:11","date_gmt":"2024-05-14T12:47:11","guid":{"rendered":"https:\/\/www.yardimatrix.com\/blog\/?p=7336"},"modified":"2024-05-16T13:56:06","modified_gmt":"2024-05-16T13:56:06","slug":"rent-forecast-focuses-on-regional-supply","status":"publish","type":"post","link":"https:\/\/www.yardimatrix.com\/blog\/rent-forecast-focuses-on-regional-supply\/","title":{"rendered":"Latest Yardi Matrix Rent Forecast Focuses on Regional Supply"},"content":{"rendered":"

Once new units are absorbed, rents will rebound in markets where asking rates have fallen behind national average<\/em><\/p>\n

\u00a0<\/em>SANTA BARBARA, Calif., May 14, 2024<\/strong> \u2013 The multifamily market is a tale of two supply scenarios, shows a new special report<\/a><\/strong> from Yardi\u00ae Matrix.<\/p>\n

Of the 134 U.S. cities reviewed by Yardi Matrix, those that recorded substantial growth during the pandemic and are now receiving high volumes of new supply are posting stagnant or falling rents. Nine of 20 markets that saw rents fall since the beginning of the year are in Florida or Texas. Other pandemic high-growth markets like Atlanta, Raleigh-Durham and Salt Lake City are also experiencing lower average asking rents than a few months ago.<\/p>\n

Secondary markets in the Midwest, Northeast and South are still posting strong growth in asking rents. Markets with increases higher than two percent include Albany; Milwaukee; Worchester-Springfield; Louisville; Cincinnati; Des Moines; Richmond; Madison; Lafayette, Ohio; Youngstown; Providence; Northern Virginia; Portland, Maine; and Scranton-Wilkes-Barre. Honolulu, where supply is a consistent challenge, marked 5.7 percent growth year-to-date.<\/p>\n

\u201cWe still expect markets with lots of supply to continue to struggle to realize gains this year, but that is only a supply issue, and once those new units get absorbed all of those markets will be back in good shape,\u201d notes the report.<\/p>\n

Rent growth in 2025 will be stronger than this year, and in 2026 even more so, as the current influx of supply to be fully absorbed. Gain more insights in the latest Multifamily Rent Forecast Update<\/strong><\/a>\u00a0from Yardi Matrix.<\/p>\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, vacant land, industrial, office, retail and self storage property types. Email\u00a0matrix@yardi.com<\/a>, call 480-663-1149 or visit\u00a0yardimatrix.com<\/a>\u00a0to learn more.<\/p>\n

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

Celebrating its 40-year anniversary in 2024, Yardi\u00ae develops industry-leading software for all types and sizes of real estate companies across the world. With over 9,000 employees, Yardi is working with our clients to drive significant innovation in the real estate industry. For more information on how Yardi is Energized for Tomorrow, visit\u00a0yardi.com<\/a>.<\/p>\n","protected":false},"excerpt":{"rendered":"

Once new units are absorbed, rents will rebound in markets where asking rates have fallen behind national average \u00a0SANTA BARBARA, Calif., May 14, 2024 \u2013 The multifamily market is a tale of two supply scenarios, shows a new special report from Yardi\u00ae Matrix. Of the 134 U.S. cities reviewed by Yardi Matrix, those that recorded […]<\/p>\n","protected":false},"author":753,"featured_media":7337,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_jetpack_memberships_contains_paid_content":false,"footnotes":""},"categories":[28,29],"tags":[511],"class_list":["post-7336","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-news","category-press-releases","tag-multifamily-outlook-2024"],"yoast_head":"\nLatest Yardi Matrix Rent Forecast Focuses on Regional Supply - Yardi Matrix Blog<\/title>\n<meta name=\"description\" content=\"Once new units are absorbed, rents will rebound in markets where asking rates have fallen behind national average, Yardi Matrix data shows.\" \/>\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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