{"id":7512,"date":"2024-06-14T10:22:59","date_gmt":"2024-06-14T10:22:59","guid":{"rendered":"https:\/\/www.yardimatrix.com\/blog\/?p=7512"},"modified":"2024-06-14T10:23:02","modified_gmt":"2024-06-14T10:23:02","slug":"minimal-rent-growth-expected-for-multifamily-in-2024","status":"publish","type":"post","link":"https:\/\/www.yardimatrix.com\/blog\/minimal-rent-growth-expected-for-multifamily-in-2024\/","title":{"rendered":"Minimal Rent Growth Expected for U.S. Multifamily Market in 2024, According to New Yardi Matrix Outlook"},"content":{"rendered":"

Rent performance varies by region, with national average expected to decelerate<\/em><\/p>\n

SANTA BARBARA, Calif., June 14, 2024<\/strong> \u2013 U.S. multifamily rent growth and occupancy have deteriorated since the 2022 peak, and the 2024 Multifamily Outlook from Yardi\u00ae Matrix<\/strong><\/a> anticipates further deceleration in the second half of this year.<\/p>\n

According to the new report, advertised multifamily rents are up 1.1 percent year-to-date, with year-over-year increases maintaining each month at around 0.6 percent. Analysts expect that advertised rent growth will be around 1.7 percent for the calendar year, far below the 24 percent gain recorded in 2021 and 2022.<\/p>\n

Regional performance varies. A strong labor market and economic growth are supporting steady rent growth in the Midwest and Northeast, but an influx of new supply is putting pressure on rents in the Sun Belt, states the report.<\/p>\n

Inbound new supply is expected to continue to impact rents nationwide. Up to 553,000 of 1.2 million units under construction are forecast to come online by the end of 2024.<\/p>\n

\u201cSupply growth has climbed in recent years due to strong demand for units, rapid rent growth and an influx of development capital,\u201d state Matrix analysts. Between 2021 and 2023, 1.3 million units came online, while in the first half of the 2010s decade only 858,000 units were delivered, according to Matrix tracking.<\/p>\n

Gain more insights in the latest U.S. Multifamily Outlook<\/a><\/strong> from 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 <\/span>matrix@yardi.com<\/a>, call 480-663-1149 or visit\u00a0<\/span>yardimatrix.com<\/a>\u00a0to learn more.<\/span><\/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":"

Rent performance varies by region, with national average expected to decelerate SANTA BARBARA, Calif., June 14, 2024 \u2013 U.S. multifamily rent growth and occupancy have deteriorated since the 2022 peak, and the 2024 Multifamily Outlook from Yardi\u00ae Matrix anticipates further deceleration in the second half of this year. According to the new report, advertised multifamily […]<\/p>\n","protected":false},"author":753,"featured_media":7513,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_jetpack_memberships_contains_paid_content":false,"footnotes":""},"categories":[28,29],"tags":[511,388],"class_list":["post-7512","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-news","category-press-releases","tag-multifamily-outlook-2024","tag-single-family-rental-sector"],"yoast_head":"\nMinimal Rent Growth Expected for U.S. Multifamily Market in 2024, According to New Yardi Matrix Outlook - Yardi Matrix Blog<\/title>\n<meta name=\"description\" content=\"Rent performance varies by region, with national average expected to decelerate\" \/>\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\/minimal-rent-growth-expected-for-multifamily-in-2024\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"Minimal Rent Growth Expected for U.S. Multifamily Market in 2024, According to New Yardi Matrix Outlook\" \/>\n<meta property=\"og:description\" content=\"Rent performance varies by region, with national average expected to decelerate\" \/>\n<meta property=\"og:url\" content=\"https:\/\/www.yardimatrix.com\/blog\/minimal-rent-growth-expected-for-multifamily-in-2024\/\" \/>\n<meta property=\"og:site_name\" content=\"Yardi Matrix Blog\" \/>\n<meta property=\"article:published_time\" content=\"2024-06-14T10:22:59+00:00\" \/>\n<meta property=\"article:modified_time\" content=\"2024-06-14T10:23:02+00:00\" \/>\n<meta property=\"og:image\" content=\"https:\/\/www.yardimatrix.com\/blog\/wp-content\/uploads\/sites\/39\/2024\/06\/Matrix_Blog_Graphic_MF_National_Outlook_Summer_2024_23799-e1718360202836.jpg\" \/>\n\t<meta property=\"og:image:width\" content=\"990\" \/>\n\t<meta property=\"og:image:height\" content=\"520\" \/>\n\t<meta property=\"og:image:type\" content=\"image\/jpeg\" \/>\n<meta name=\"author\" content=\"Razvan Cimpean\" \/>\n<meta name=\"twitter:card\" content=\"summary_large_image\" \/>\n<meta name=\"twitter:label1\" content=\"Written by\" \/>\n\t<meta name=\"twitter:data1\" content=\"Jeff Adler\" \/>\n\t<meta name=\"twitter:label2\" content=\"Est. reading time\" \/>\n\t<meta name=\"twitter:data2\" content=\"2 minutes\" \/>\n<!-- \/ Yoast SEO Premium plugin. -->","yoast_head_json":{"title":"Minimal Rent Growth Expected for U.S. Multifamily Market in 2024, According to New Yardi Matrix Outlook - Yardi Matrix Blog","description":"Rent performance varies by region, with national average expected to decelerate","robots":{"index":"index","follow":"follow","max-snippet":"max-snippet:-1","max-image-preview":"max-image-preview:large","max-video-preview":"max-video-preview:-1"},"canonical":"https:\/\/www.yardimatrix.com\/blog\/minimal-rent-growth-expected-for-multifamily-in-2024\/","og_locale":"en_US","og_type":"article","og_title":"Minimal Rent Growth Expected for U.S. Multifamily Market in 2024, According to New Yardi Matrix Outlook","og_description":"Rent performance varies by region, with national average expected to decelerate","og_url":"https:\/\/www.yardimatrix.com\/blog\/minimal-rent-growth-expected-for-multifamily-in-2024\/","og_site_name":"Yardi Matrix Blog","article_published_time":"2024-06-14T10:22:59+00:00","article_modified_time":"2024-06-14T10:23:02+00:00","og_image":[{"width":990,"height":520,"url":"https:\/\/www.yardimatrix.com\/blog\/wp-content\/uploads\/sites\/39\/2024\/06\/Matrix_Blog_Graphic_MF_National_Outlook_Summer_2024_23799-e1718360202836.jpg","type":"image\/jpeg"}],"author":"Razvan Cimpean","twitter_card":"summary_large_image","twitter_misc":{"Written by":"Jeff Adler","Est. reading time":"2 minutes"},"schema":{"@context":"https:\/\/schema.org","@graph":[{"@type":"Article","@id":"https:\/\/www.yardimatrix.com\/blog\/minimal-rent-growth-expected-for-multifamily-in-2024\/#article","isPartOf":{"@id":"https:\/\/www.yardimatrix.com\/blog\/minimal-rent-growth-expected-for-multifamily-in-2024\/"},"author":{"name":"Razvan Cimpean","@id":"https:\/\/www.yardimatrix.com\/blog\/#\/schema\/person\/694c0c0a53e89aa8de1e53ff8201b3b6"},"headline":"Minimal Rent Growth Expected for U.S. Multifamily Market in 2024, According to New Yardi Matrix Outlook","datePublished":"2024-06-14T10:22:59+00:00","dateModified":"2024-06-14T10:23:02+00:00","mainEntityOfPage":{"@id":"https:\/\/www.yardimatrix.com\/blog\/minimal-rent-growth-expected-for-multifamily-in-2024\/"},"wordCount":342,"commentCount":0,"publisher":{"@id":"https:\/\/www.yardimatrix.com\/blog\/#organization"},"image":{"@id":"https:\/\/www.yardimatrix.com\/blog\/minimal-rent-growth-expected-for-multifamily-in-2024\/#primaryimage"},"thumbnailUrl":"https:\/\/www.yardimatrix.com\/blog\/wp-content\/uploads\/sites\/39\/2024\/06\/Matrix_Blog_Graphic_MF_National_Outlook_Summer_2024_23799-e1718360202836.jpg","keywords":["Multifamily Outlook 2024","Single Family Rental Sector"],"articleSection":["News","Press Releases"],"inLanguage":"en-US","potentialAction":[{"@type":"CommentAction","name":"Comment","target":["https:\/\/www.yardimatrix.com\/blog\/minimal-rent-growth-expected-for-multifamily-in-2024\/#respond"]}]},{"@type":"WebPage","@id":"https:\/\/www.yardimatrix.com\/blog\/minimal-rent-growth-expected-for-multifamily-in-2024\/","url":"https:\/\/www.yardimatrix.com\/blog\/minimal-rent-growth-expected-for-multifamily-in-2024\/","name":"Minimal Rent Growth Expected for U.S. Multifamily Market in 2024, According to New Yardi Matrix Outlook - Yardi Matrix Blog","isPartOf":{"@id":"https:\/\/www.yardimatrix.com\/blog\/#website"},"primaryImageOfPage":{"@id":"https:\/\/www.yardimatrix.com\/blog\/minimal-rent-growth-expected-for-multifamily-in-2024\/#primaryimage"},"image":{"@id":"https:\/\/www.yardimatrix.com\/blog\/minimal-rent-growth-expected-for-multifamily-in-2024\/#primaryimage"},"thumbnailUrl":"https:\/\/www.yardimatrix.com\/blog\/wp-content\/uploads\/sites\/39\/2024\/06\/Matrix_Blog_Graphic_MF_National_Outlook_Summer_2024_23799-e1718360202836.jpg","datePublished":"2024-06-14T10:22:59+00:00","dateModified":"2024-06-14T10:23:02+00:00","description":"Rent performance varies by region, with national average expected to decelerate","breadcrumb":{"@id":"https:\/\/www.yardimatrix.com\/blog\/minimal-rent-growth-expected-for-multifamily-in-2024\/#breadcrumb"},"inLanguage":"en-US","potentialAction":[{"@type":"ReadAction","target":["https:\/\/www.yardimatrix.com\/blog\/minimal-rent-growth-expected-for-multifamily-in-2024\/"]}]},{"@type":"ImageObject","inLanguage":"en-US","@id":"https:\/\/www.yardimatrix.com\/blog\/minimal-rent-growth-expected-for-multifamily-in-2024\/#primaryimage","url":"https:\/\/www.yardimatrix.com\/blog\/wp-content\/uploads\/sites\/39\/2024\/06\/Matrix_Blog_Graphic_MF_National_Outlook_Summer_2024_23799-e1718360202836.jpg","contentUrl":"https:\/\/www.yardimatrix.com\/blog\/wp-content\/uploads\/sites\/39\/2024\/06\/Matrix_Blog_Graphic_MF_National_Outlook_Summer_2024_23799-e1718360202836.jpg","width":990,"height":520},{"@type":"BreadcrumbList","@id":"https:\/\/www.yardimatrix.com\/blog\/minimal-rent-growth-expected-for-multifamily-in-2024\/#breadcrumb","itemListElement":[{"@type":"ListItem","position":1,"name":"Home","item":"https:\/\/www.yardimatrix.com\/blog\/"},{"@type":"ListItem","position":2,"name":"Minimal Rent Growth Expected for U.S. Multifamily Market in 2024, According to New Yardi Matrix Outlook"}]},{"@type":"WebSite","@id":"https:\/\/www.yardimatrix.com\/blog\/#website","url":"https:\/\/www.yardimatrix.com\/blog\/","name":"Yardi Matrix Blog","description":"Stay current with the latest commercial real estate market trends and forecasts","publisher":{"@id":"https:\/\/www.yardimatrix.com\/blog\/#organization"},"potentialAction":[{"@type":"SearchAction","target":{"@type":"EntryPoint","urlTemplate":"https:\/\/www.yardimatrix.com\/blog\/?s={search_term_string}"},"query-input":{"@type":"PropertyValueSpecification","valueRequired":true,"valueName":"search_term_string"}}],"inLanguage":"en-US"},{"@type":"Organization","@id":"https:\/\/www.yardimatrix.com\/blog\/#organization","name":"Yardi Matrix","url":"https:\/\/www.yardimatrix.com\/blog\/","logo":{"@type":"ImageObject","inLanguage":"en-US","@id":"https:\/\/www.yardimatrix.com\/blog\/#\/schema\/logo\/image\/","url":"https:\/\/www.yardimatrix.com\/blog\/wp-content\/uploads\/sites\/39\/2020\/11\/Inline_Matrix_Color_es-1.jpg","contentUrl":"https:\/\/www.yardimatrix.com\/blog\/wp-content\/uploads\/sites\/39\/2020\/11\/Inline_Matrix_Color_es-1.jpg","width":200,"height":39,"caption":"Yardi Matrix"},"image":{"@id":"https:\/\/www.yardimatrix.com\/blog\/#\/schema\/logo\/image\/"},"sameAs":["https:\/\/www.linkedin.com\/company\/yardi-matrix\/","https:\/\/www.youtube.com\/channel\/UCRHgAZL4YoyeNEdiRN5uj0g"]},{"@type":"Person","@id":"https:\/\/www.yardimatrix.com\/blog\/#\/schema\/person\/694c0c0a53e89aa8de1e53ff8201b3b6","name":"Razvan Cimpean","image":{"@type":"ImageObject","inLanguage":"en-US","@id":"https:\/\/www.yardimatrix.com\/blog\/#\/schema\/person\/image\/","url":"https:\/\/secure.gravatar.com\/avatar\/a2a826ff843b4f800ff5528644dc28dc336a20ec16082b6108ff5a5def333e6d?s=96&d=mm&r=g","contentUrl":"https:\/\/secure.gravatar.com\/avatar\/a2a826ff843b4f800ff5528644dc28dc336a20ec16082b6108ff5a5def333e6d?s=96&d=mm&r=g","caption":"Razvan Cimpean"},"url":""}]}},"jetpack_featured_media_url":"https:\/\/www.yardimatrix.com\/blog\/wp-content\/uploads\/sites\/39\/2024\/06\/Matrix_Blog_Graphic_MF_National_Outlook_Summer_2024_23799-e1718360202836.jpg","jetpack_sharing_enabled":true,"_links":{"self":[{"href":"https:\/\/www.yardimatrix.com\/blog\/wp-json\/wp\/v2\/posts\/7512","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/www.yardimatrix.com\/blog\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.yardimatrix.com\/blog\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.yardimatrix.com\/blog\/wp-json\/wp\/v2\/users\/753"}],"replies":[{"embeddable":true,"href":"https:\/\/www.yardimatrix.com\/blog\/wp-json\/wp\/v2\/comments?post=7512"}],"version-history":[{"count":1,"href":"https:\/\/www.yardimatrix.com\/blog\/wp-json\/wp\/v2\/posts\/7512\/revisions"}],"predecessor-version":[{"id":7514,"href":"https:\/\/www.yardimatrix.com\/blog\/wp-json\/wp\/v2\/posts\/7512\/revisions\/7514"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/www.yardimatrix.com\/blog\/wp-json\/wp\/v2\/media\/7513"}],"wp:attachment":[{"href":"https:\/\/www.yardimatrix.com\/blog\/wp-json\/wp\/v2\/media?parent=7512"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.yardimatrix.com\/blog\/wp-json\/wp\/v2\/categories?post=7512"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.yardimatrix.com\/blog\/wp-json\/wp\/v2\/tags?post=7512"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}