{"id":8661,"date":"2024-12-16T11:02:00","date_gmt":"2024-12-16T11:02:00","guid":{"rendered":"https:\/\/www.yardimatrix.com\/blog\/?p=8661"},"modified":"2025-04-14T11:16:13","modified_gmt":"2025-04-14T11:16:13","slug":"inland-empire-multifamily-market-report-december-2024","status":"publish","type":"post","link":"https:\/\/www.yardimatrix.com\/blog\/inland-empire-multifamily-market-report-december-2024\/","title":{"rendered":"Inland Empire Multifamily Market Report \u2013 December 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>Occupancy Inches Up, Rent Growth Steady<\/h2>\n<p>The Inland Empire maintained steady performance across multifamily fundamentals heading into late 2024, according to the latest Inland Empire multifamily market report. Average advertised asking rents maintained some momentum, up 1.1% year-over-year through October, to $2,141. That was 20 basis points above the U.S. average, as per the <a href=\"\/blog\/national-multifamily-market-report\/\" rel=\"\"><strong>national multifamily market report<\/strong><\/a>. Meanwhile, limited supply supported occupancy, with the Inland Empire rate up 30 basis points year-over-year, to 95.3%.<\/p>\n<p><iframe id=\"datawrapper-chart-jLPKK\" style=\"width: 0; min-width: 100% !important; border: none;\" title=\"Inland Empire vs. National Rent Growth \" src=\"https:\/\/datawrapper.dwcdn.net\/jLPKK\/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>Employment was up 1.6% in the Inland Empire as of August, 20 basis points ahead of the U.S. rate. The area gained 33,600 net jobs, led by education and health services (18,300) and government (11,700). However, four sectors lost a combined 4,900 positions, with the largest contraction recorded in the manufacturing sector (-2,500). Inland Empire unemployment stood at 5.5% as of October, well behind the nation\u2019s 4.1%, but close to California\u2019s 5.4%. Rancho Cucamonga\u2019s Epicenter Master Plan got a major boost in 2024, with $2.5 billion in bonds secured for the $12 billion high-speed rail project dubbed Brightline West that will connect Las Vegas and Southern California.<\/p>\n<p><iframe id=\"datawrapper-chart-t25sh\" style=\"width: 0; min-width: 100% !important; border: none;\" title=\"Inland Empire Employment Share by Sector \" src=\"https:\/\/datawrapper.dwcdn.net\/t25sh\/1\/\" height=\"433\" 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>Deliveries were limited, with 1,069 units added to the Inland Empire\u2019s stock in 2024 through October, while another 10,349 apartments were underway. Investment activity picked up a bit from 2023, with the total at $622 million year-to-date through October. However, the per-unit price saw a 5% downtick.<\/p>\n<p>Read the full Yardi Matrix Inland Empire Multifamily Market Report: <a href=\"https:\/\/www.yardimatrix.com\/publications\/download\/file\/6642-MatrixMultifamilyInlandEmpireReport-December2024\"><strong>December 2024<\/strong><\/a><\/p>","protected":false},"excerpt":{"rendered":"<p>Occupancy Inches Up, Rent Growth Steady The Inland Empire maintained steady performance across multifamily fundamentals heading into late 2024, according to the latest Inland Empire multifamily market report. Average advertised asking rents maintained some momentum, up 1.1% year-over-year through October, to $2,141. That was 20 basis points above the U.S. average, as per the national [&hellip;]<\/p>\n","protected":false},"author":436,"featured_media":8215,"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-8661","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 December 2024 - Yardi Matrix Blog<\/title>\n<meta name=\"description\" content=\"Advertised asking rents in the Inland Empire declined 0.1 percent on a T3 basis through October, Yardi Matrix reports.\" \/>\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-december-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 December 2024\" \/>\n<meta property=\"og:description\" content=\"Advertised asking rents in the Inland Empire declined 0.1 percent on a T3 basis through October, Yardi Matrix reports.\" \/>\n<meta property=\"og:url\" content=\"https:\/\/www.yardimatrix.com\/blog\/inland-empire-multifamily-market-report-december-2024\/\" \/>\n<meta property=\"og:site_name\" content=\"Yardi Matrix Blog\" \/>\n<meta property=\"article:published_time\" content=\"2024-12-16T11:02:00+00:00\" \/>\n<meta property=\"article:modified_time\" content=\"2025-04-14T11:16:13+00:00\" \/>\n<meta property=\"og:image\" content=\"https:\/\/www.yardimatrix.com\/blog\/wp-content\/uploads\/sites\/39\/2024\/09\/Inland-Empire-iStock-1472225067.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 December 2024 - 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