{"id":8299,"date":"2025-01-14T15:03:30","date_gmt":"2025-01-14T15:03:30","guid":{"rendered":"https:\/\/www.yardimatrix.com\/blog\/?p=8299"},"modified":"2025-02-12T11:21:16","modified_gmt":"2025-02-12T11:21:16","slug":"national-multifamily-market-report-december-2024","status":"publish","type":"post","link":"https:\/\/www.yardimatrix.com\/blog\/national-multifamily-market-report-december-2024\/","title":{"rendered":"National Multifamily Market Report \u2013 December 2024"},"content":{"rendered":"\n

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

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Rent growth ended 2024 with a 0.6% year-over-year uptick, according to the latest Yardi Matrix national multifamily market report<\/em>.<\/p>\n\n\n\n

Report highlights:<\/h1>\n\n\n\n
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  • National advertised asking rents fell $4 in December, to $1,742, with multifamily rent growth up 0.6% year-over-year. <\/li>\n\n\n\n
  • The decline in rents remained steeper in the upscale Lifestyle segment.<\/li>\n\n\n\n
  • Strong absorption volumes point to healthy demand but with significant regional variance.<\/li>\n\n\n\n
  • Advertised asking rents in the single-family rental market dropped $7 in December to $2,141, occupancy endured.<\/li>\n<\/ul>\n\n\n\n

    Rent growth positive, albeit weak; occupancy endures<\/h2>\n\n\n\n

    The average U.S. advertised asking rent fell by another $4 in December to $1,742, which is $4 above the May 2023 figure and $4 less than in June 2023. On a year-over-year basis, multifamily rent growth remained positive, but weak, up just 0.6%. More so, national year-over-year growth stayed between 0% and 1.0% for the past 16 months. Leaders in rent growth remained New York City (5.0%), Kansas City (3.9%), New Jersey (3.8%), Chicago (3.3%) and Columbus (3.1%). The steepest declines were recorded in Austin (-5.9%). Raleigh (-3.1%), Phoenix and Atlanta (both -2.9%).<\/p>\n\n\n\n