{"id":8042,"date":"2024-10-14T12:56:28","date_gmt":"2024-10-14T12:56:28","guid":{"rendered":"https:\/\/www.yardimatrix.com\/blog\/?p=8042"},"modified":"2024-11-19T07:35:47","modified_gmt":"2024-11-19T07:35:47","slug":"national-multifamily-market-report-september-2024","status":"publish","type":"post","link":"https:\/\/www.yardimatrix.com\/blog\/national-multifamily-market-report-september-2024\/","title":{"rendered":"National Multifamily Market Report \u2013 September 2024"},"content":{"rendered":"\n

Read the latest Yardi Matrix National Multifamily Market Report<\/a><\/strong>.<\/p>\n\n\n\n

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Report highlights:<\/h2>\n\n\n\n
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  • The average U.S. advertised asking rent fell for the second consecutive month in September, down $3 to $1,750, unchanged year-over-year at 0.9%.<\/li>\n\n\n\n
  • Lifestyle segment drove rent decline, Renter-by-Necessity rents remain flat.<\/li>\n\n\n\n
  • Supply growth commands rent performance as economic conditions recalibrate.<\/li>\n\n\n\n
  • SFR advertised asking rents slid $3 to $2,167, occupancy drops 30 basis points to 95.3% in August.<\/li>\n<\/ul>\n\n\n\n

    Economic progress sparks optimism across the multifamily market<\/h2>\n\n\n\n

    The average U.S. advertised asking rent dropped by another $3 to $1,750 in September, but year-over-year growth remained flat at 0.9%, and occupancy at 94.8% for the fourth consecutive month. The 50-basis-point interest rate cut in September and strong employment numbers contributed to revived optimism about industry fundamentals. Rent growth is mainly driven by ongoing supply growth, and Yardi Matrix found that of the top 30 metros, rent growth was positive in eight of the 10 metros with the least supply growth, and negative in eight of the top 10 metros with the most supply growth. <\/p>\n\n\n\n