{"id":8112,"date":"2024-11-14T10:06:43","date_gmt":"2024-11-14T10:06:43","guid":{"rendered":"https:\/\/www.yardimatrix.com\/blog\/?p=8112"},"modified":"2024-12-10T10:13:05","modified_gmt":"2024-12-10T10:13:05","slug":"national-multifamily-market-report-october-2024","status":"publish","type":"post","link":"https:\/\/www.yardimatrix.com\/blog\/national-multifamily-market-report-october-2024\/","title":{"rendered":"National Multifamily Market Report \u2013 October 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 marked the third consecutive month of declines in October, down $3 to $1,748, for a 0.9% year-over-year increase.<\/li>\n\n\n\n
  • Lifestyle rents drive rent decline, Renter-by-Necessity remain unchanged.<\/li>\n\n\n\n
  • Occupancy stabilizes, supply controls rent growth.<\/li>\n\n\n\n
  • SFR advertised asking rents fell $8 to $2,164 in October, occupancy inches down 10 basis points to 95.1% in September.<\/li>\n<\/ul>\n\n\n\n

    Typical fourth quarter slowdown<\/h2>\n\n\n\n

    The average U.S. advertised asking rent remained on a downward trend in October, falling $3 to $1,748 for a steady 0.9% year-over-year increase. Despite the decline, demand kept up with supply, with the occupancy rate sliding just 10 basis points year-over-year to 94.7% in October. While most metros registered minor changes, Las Vegas outperformed, with occupancy up 100 basis points to 93.7%. In 2024 through September, 329,000 units have been absorbed nationally.<\/p>\n\n\n\n