{"id":8213,"date":"2024-09-09T07:53:00","date_gmt":"2024-09-09T07:53:00","guid":{"rendered":"https:\/\/www.yardimatrix.com\/blog\/?p=8213"},"modified":"2025-01-09T08:03:19","modified_gmt":"2025-01-09T08:03:19","slug":"inland-empire-multifamily-market-report-august-2024","status":"publish","type":"post","link":"https:\/\/www.yardimatrix.com\/blog\/inland-empire-multifamily-market-report-august-2024\/","title":{"rendered":"Inland Empire Multifamily Market Report \u2013 August 2024"},"content":{"rendered":"\n<p class=\"has-normal-font-size\">Read the latest Yardi Matrix <strong><a href=\"\/blog\/inland-empire-multifamily-market-report\/\">Inland Empire Multifamily Market Report<\/a><\/strong>.<\/p>\n\n\n<hr \/>\n<h2>Rent-Growth Rehab, As Occupancy Contracts<\/h2>\n<p>The Inland Empire\u2019s multifamily market rebounded in the second quarter of 2024, posting sustained rent growth, up 0.4% on a three-month basis through June, to $2,140. Meanwhile, the U.S. average advertised asking rent rose 0.3%, to $1,739. The occupancy rate in stabilized properties marked a 50-basis-point decline year-over-year through June but remained healthy at 95.0%, above the 94.5% U.S. figure, as per the <a href=\"\/blog\/national-multifamily-market-report\/\" rel=\"\"><strong>national multifamily market report<\/strong><\/a>.<\/p>\n<p><iframe id=\"datawrapper-chart-bKBtJ\" style=\"width: 0; min-width: 100% !important; border: none;\" title=\"Inland Empire vs. National Rent Growth\" src=\"https:\/\/datawrapper.dwcdn.net\/bKBtJ\/1\/\" height=\"328\" frameborder=\"0\" scrolling=\"no\" aria-label=\"Interactive line chart\" data-external=\"1\"><\/iframe><script type=\"text\/javascript\">!function(){\"use strict\";window.addEventListener(\"message\",(function(a){if(void 0!==a.data[\"datawrapper-height\"]){var e=document.querySelectorAll(\"iframe\");for(var t in a.data[\"datawrapper-height\"])for(var r=0;r<e.length;r++)if(e[r].contentWindow===a.source){var i=a.data[\"datawrapper-height\"][t]+\"px\";e[r].style.height=i}}}))}();\n<\/script><\/p>\n<p>In the 12 months ending in April, the Inland Empire\u2019s employment market expanded 1.4%, on par with the U.S. rate. This was the equivalent of 21,000 jobs. Three sectors lost 11,500 jobs combined\u2014trade, transportation and utilities, leisure and hospitality and manufacturing. Meanwhile, gains were led by education and health services (18,700 jobs) and government (12,000 jobs). The unemployment rate stood at 4.3% in May, trailing the 4.0% U.S. rate and outperforming California\u2019s 5.2%, according to preliminary data from the Bureau of Labor Statistics. Notable projects underway in the metro include the Epicenter Master Plan and Eastvale\u2019s downtown and civic center.<\/p>\n<p><iframe id=\"datawrapper-chart-sLZNr\" style=\"width: 0; min-width: 100% !important; border: none;\" title=\"Inland Empire Employment Share by Sector\" src=\"https:\/\/datawrapper.dwcdn.net\/sLZNr\/1\/\" height=\"423\" frameborder=\"0\" scrolling=\"no\" aria-label=\"Table\" data-external=\"1\"><\/iframe><script type=\"text\/javascript\">!function(){\"use strict\";window.addEventListener(\"message\",(function(a){if(void 0!==a.data[\"datawrapper-height\"]){var e=document.querySelectorAll(\"iframe\");for(var t in a.data[\"datawrapper-height\"])for(var r=0;r<e.length;r++)if(e[r].contentWindow===a.source){var i=a.data[\"datawrapper-height\"][t]+\"px\";e[r].style.height=i}}}))}();\n<\/script><\/p>\n<p>During the first half of the year, developers delivered just 554 units and, as of June, the pipeline had 8,388 units under construction. Meanwhile, investment activity totaled just $177 million, for a price per unit that decreased 1.3% year-to-date, to $253,290, well above the $180,183 U.S. average<\/p>\n<p>Read the full Yardi Matrix Inland Empire Multifamily Market Report: <a href=\"\/publications\/download\/file\/6075-MatrixMultifamilyInlandEmpireReport-August2024\"><strong>August 2024<\/strong><\/a><\/p>","protected":false},"excerpt":{"rendered":"<p>Rent-Growth Rehab, As Occupancy Contracts The Inland Empire\u2019s multifamily market rebounded in the second quarter of 2024, posting sustained rent growth, up 0.4% on a three-month basis through June, to $2,140. Meanwhile, the U.S. average advertised asking rent rose 0.3%, to $1,739. The occupancy rate in stabilized properties marked a 50-basis-point decline year-over-year through June [&hellip;]<\/p>\n","protected":false},"author":436,"featured_media":7819,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_jetpack_memberships_contains_paid_content":false,"footnotes":""},"categories":[12,5,4],"tags":[111,511],"class_list":["post-8213","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-metro-reports","category-multifamily-market","category-real-estate-trends","tag-inland-empire","tag-multifamily-outlook-2024"],"yoast_head":"<!-- This site is optimized with the Yoast SEO Premium plugin v23.4 (Yoast SEO v24.6) - https:\/\/yoast.com\/wordpress\/plugins\/seo\/ -->\n<title>Inland Empire Multifamily Market Report \u2013 August 2024 - Yardi Matrix Blog<\/title>\n<meta name=\"description\" content=\"The Inland Empire\u2019s average advertised asking rents registered a comeback in the second quarter, 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\" href=\"https:\/\/www.yardimatrix.com\/blog\/inland-empire-multifamily-market-report-august-2024\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"Inland Empire Multifamily Market Report \u2013 August 2024\" \/>\n<meta property=\"og:description\" content=\"The Inland Empire\u2019s average advertised asking rents registered a comeback in the second quarter, Yardi Matrix data shows.\" \/>\n<meta property=\"og:url\" content=\"https:\/\/www.yardimatrix.com\/blog\/inland-empire-multifamily-market-report-august-2024\/\" \/>\n<meta property=\"og:site_name\" content=\"Yardi Matrix Blog\" \/>\n<meta property=\"article:published_time\" content=\"2024-09-09T07:53:00+00:00\" \/>\n<meta property=\"article:modified_time\" content=\"2025-01-09T08:03:19+00:00\" \/>\n<meta property=\"og:image\" content=\"https:\/\/www.yardimatrix.com\/blog\/wp-content\/uploads\/sites\/39\/2024\/04\/Inland-Empire-iStock-1279257118.jpg\" \/>\n\t<meta property=\"og:image:width\" content=\"1200\" \/>\n\t<meta property=\"og:image:height\" content=\"628\" \/>\n\t<meta property=\"og:image:type\" content=\"image\/jpeg\" \/>\n<meta name=\"author\" content=\"Adina Rogoz\" \/>\n<meta name=\"twitter:card\" content=\"summary_large_image\" \/>\n<meta name=\"twitter:label1\" content=\"Written by\" \/>\n\t<meta name=\"twitter:data1\" content=\"Anca Gagiuc\" \/>\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":"Inland Empire Multifamily Market Report \u2013 August 2024 - 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