{"id":7643,"date":"2024-07-09T12:31:52","date_gmt":"2024-07-09T12:31:52","guid":{"rendered":"https:\/\/www.yardimatrix.com\/blog\/?p=7643"},"modified":"2024-07-29T12:56:12","modified_gmt":"2024-07-29T12:56:12","slug":"multifamily-asking-rents-continue-upward-trend","status":"publish","type":"post","link":"https:\/\/www.yardimatrix.com\/blog\/multifamily-asking-rents-continue-upward-trend\/","title":{"rendered":"Multifamily Asking Rents Continue Upward Trend, Reports Yardi Matrix"},"content":{"rendered":"

SANTA BARBARA, Calif., July 09, 2024<\/strong> \u2013 The U.S. multifamily market remained healthy in June, despite above-trend expense growth and continued supply expansion in some metros, according to the latest Yardi\u00ae Matrix National Multifamily Report<\/a><\/strong>.<\/p>\n

The average U.S. publicly advertised rent or \u201casking\u00a0rent\u201d\u00a0rose 0.6 percent year-over-year (YoY) through June, or $4 to $1,739. During the first half of the year, asking rents rose 1.5 percent nationally and one percent during the second quarter. Meanwhile, the national occupancy rate remained at 94.5 percent in May, unchanged from April and down 0.5 percent YoY.<\/p>\n

Rent growth remained highest in the Northeast and Midwest, led by New York City (4.8 percent YoY), Kansas City (3.4 percent) and Columbus (3.2 percent). Negative rent growth intensified in several Southern metros, including Austin (-6.5 percent), Atlanta (-3.6 percent) and Raleigh (-3.3 percent).<\/p>\n

The single-family rental market posted the first decline in asking rents so far this year. Asking rents were down $3 in June to $2,166, for a 1.1 percent YoY increase. The occupancy rate remained flat at 95.4 percent in May.<\/p>\n

Gain more insight in the new\u00a0Yardi Matrix National Multifamily Report<\/a><\/strong>.<\/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, affordable housing, 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":"

SANTA BARBARA, Calif., July 09, 2024 \u2013 The U.S. multifamily market remained healthy in June, despite above-trend expense growth and continued supply expansion in some metros, according to the latest Yardi\u00ae Matrix National Multifamily Report. The average U.S. publicly advertised rent or \u201casking\u00a0rent\u201d\u00a0rose 0.6 percent year-over-year (YoY) through June, or $4 to $1,739. During the […]<\/p>\n","protected":false},"author":753,"featured_media":7644,"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-7643","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":"\nMultifamily Asking Rents Continue Upward Trend, Reports Yardi Matrix - Yardi Matrix Blog<\/title>\n<meta name=\"description\" content=\"Single family rentals continue to outperform; Sun Belt cities feel the impact of supply increase, according to Yardi Matrix data.\" \/>\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\/multifamily-asking-rents-continue-upward-trend\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"Multifamily Asking Rents Continue Upward Trend, Reports Yardi Matrix\" \/>\n<meta property=\"og:description\" content=\"Single family rentals continue to outperform; Sun Belt cities feel the impact of supply increase, according to Yardi Matrix data.\" \/>\n<meta property=\"og:url\" content=\"https:\/\/www.yardimatrix.com\/blog\/multifamily-asking-rents-continue-upward-trend\/\" \/>\n<meta property=\"og:site_name\" content=\"Yardi Matrix Blog\" \/>\n<meta property=\"article:published_time\" content=\"2024-07-09T12:31:52+00:00\" \/>\n<meta property=\"article:modified_time\" content=\"2024-07-29T12:56:12+00:00\" \/>\n<meta property=\"og:image\" content=\"https:\/\/www.yardimatrix.com\/blog\/wp-content\/uploads\/sites\/39\/2024\/07\/Matrix_Blog_Graphic_NationalReport_MF_June_2024.jpg\" \/>\n\t<meta property=\"og:image:width\" content=\"1200\" \/>\n\t<meta property=\"og:image:height\" content=\"630\" \/>\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":"Multifamily Asking Rents Continue Upward Trend, Reports Yardi Matrix - Yardi Matrix Blog","description":"Single family rentals continue to outperform; Sun Belt cities feel the impact of supply increase, according to Yardi Matrix data.","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\/multifamily-asking-rents-continue-upward-trend\/","og_locale":"en_US","og_type":"article","og_title":"Multifamily Asking Rents Continue Upward Trend, Reports Yardi Matrix","og_description":"Single family rentals continue to outperform; Sun Belt cities feel the impact of supply increase, according to Yardi Matrix data.","og_url":"https:\/\/www.yardimatrix.com\/blog\/multifamily-asking-rents-continue-upward-trend\/","og_site_name":"Yardi Matrix Blog","article_published_time":"2024-07-09T12:31:52+00:00","article_modified_time":"2024-07-29T12:56:12+00:00","og_image":[{"width":1200,"height":630,"url":"https:\/\/www.yardimatrix.com\/blog\/wp-content\/uploads\/sites\/39\/2024\/07\/Matrix_Blog_Graphic_NationalReport_MF_June_2024.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\/multifamily-asking-rents-continue-upward-trend\/#article","isPartOf":{"@id":"https:\/\/www.yardimatrix.com\/blog\/multifamily-asking-rents-continue-upward-trend\/"},"author":{"name":"Razvan Cimpean","@id":"https:\/\/www.yardimatrix.com\/blog\/#\/schema\/person\/694c0c0a53e89aa8de1e53ff8201b3b6"},"headline":"Multifamily Asking Rents Continue Upward Trend, Reports Yardi Matrix","datePublished":"2024-07-09T12:31:52+00:00","dateModified":"2024-07-29T12:56:12+00:00","mainEntityOfPage":{"@id":"https:\/\/www.yardimatrix.com\/blog\/multifamily-asking-rents-continue-upward-trend\/"},"wordCount":299,"commentCount":0,"publisher":{"@id":"https:\/\/www.yardimatrix.com\/blog\/#organization"},"image":{"@id":"https:\/\/www.yardimatrix.com\/blog\/multifamily-asking-rents-continue-upward-trend\/#primaryimage"},"thumbnailUrl":"https:\/\/www.yardimatrix.com\/blog\/wp-content\/uploads\/sites\/39\/2024\/07\/Matrix_Blog_Graphic_NationalReport_MF_June_2024.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\/multifamily-asking-rents-continue-upward-trend\/#respond"]}]},{"@type":"WebPage","@id":"https:\/\/www.yardimatrix.com\/blog\/multifamily-asking-rents-continue-upward-trend\/","url":"https:\/\/www.yardimatrix.com\/blog\/multifamily-asking-rents-continue-upward-trend\/","name":"Multifamily Asking Rents Continue Upward Trend, Reports Yardi Matrix - Yardi Matrix Blog","isPartOf":{"@id":"https:\/\/www.yardimatrix.com\/blog\/#website"},"primaryImageOfPage":{"@id":"https:\/\/www.yardimatrix.com\/blog\/multifamily-asking-rents-continue-upward-trend\/#primaryimage"},"image":{"@id":"https:\/\/www.yardimatrix.com\/blog\/multifamily-asking-rents-continue-upward-trend\/#primaryimage"},"thumbnailUrl":"https:\/\/www.yardimatrix.com\/blog\/wp-content\/uploads\/sites\/39\/2024\/07\/Matrix_Blog_Graphic_NationalReport_MF_June_2024.jpg","datePublished":"2024-07-09T12:31:52+00:00","dateModified":"2024-07-29T12:56:12+00:00","description":"Single family rentals continue to outperform; Sun Belt cities feel the impact of supply increase, according to Yardi Matrix data.","breadcrumb":{"@id":"https:\/\/www.yardimatrix.com\/blog\/multifamily-asking-rents-continue-upward-trend\/#breadcrumb"},"inLanguage":"en-US","potentialAction":[{"@type":"ReadAction","target":["https:\/\/www.yardimatrix.com\/blog\/multifamily-asking-rents-continue-upward-trend\/"]}]},{"@type":"ImageObject","inLanguage":"en-US","@id":"https:\/\/www.yardimatrix.com\/blog\/multifamily-asking-rents-continue-upward-trend\/#primaryimage","url":"https:\/\/www.yardimatrix.com\/blog\/wp-content\/uploads\/sites\/39\/2024\/07\/Matrix_Blog_Graphic_NationalReport_MF_June_2024.jpg","contentUrl":"https:\/\/www.yardimatrix.com\/blog\/wp-content\/uploads\/sites\/39\/2024\/07\/Matrix_Blog_Graphic_NationalReport_MF_June_2024.jpg","width":1200,"height":630,"caption":"Multifamily Asking Rents Continue Upward Trend"},{"@type":"BreadcrumbList","@id":"https:\/\/www.yardimatrix.com\/blog\/multifamily-asking-rents-continue-upward-trend\/#breadcrumb","itemListElement":[{"@type":"ListItem","position":1,"name":"Home","item":"https:\/\/www.yardimatrix.com\/blog\/"},{"@type":"ListItem","position":2,"name":"Multifamily Asking Rents Continue Upward Trend, Reports Yardi Matrix"}]},{"@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\/07\/Matrix_Blog_Graphic_NationalReport_MF_June_2024.jpg","jetpack_sharing_enabled":true,"_links":{"self":[{"href":"https:\/\/www.yardimatrix.com\/blog\/wp-json\/wp\/v2\/posts\/7643","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=7643"}],"version-history":[{"count":2,"href":"https:\/\/www.yardimatrix.com\/blog\/wp-json\/wp\/v2\/posts\/7643\/revisions"}],"predecessor-version":[{"id":7646,"href":"https:\/\/www.yardimatrix.com\/blog\/wp-json\/wp\/v2\/posts\/7643\/revisions\/7646"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/www.yardimatrix.com\/blog\/wp-json\/wp\/v2\/media\/7644"}],"wp:attachment":[{"href":"https:\/\/www.yardimatrix.com\/blog\/wp-json\/wp\/v2\/media?parent=7643"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.yardimatrix.com\/blog\/wp-json\/wp\/v2\/categories?post=7643"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.yardimatrix.com\/blog\/wp-json\/wp\/v2\/tags?post=7643"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}