{"id":980,"date":"2021-05-11T07:44:08","date_gmt":"2021-05-11T07:44:08","guid":{"rendered":"https:\/\/www.yardimatrix.com\/blog\/?p=980"},"modified":"2023-09-12T14:57:27","modified_gmt":"2023-09-12T14:57:27","slug":"yardi-matrix-national-multifamily-outlook-april-2021","status":"publish","type":"post","link":"https:\/\/www.yardimatrix.com\/blog\/yardi-matrix-national-multifamily-outlook-april-2021\/","title":{"rendered":"Yardi Matrix National Multifamily Outlook &#8211; April 2021"},"content":{"rendered":"\n<h2 class=\"wp-block-heading\">Multifamily Market Continues to Show Strength<\/h2>\n\n\n\n<p>\u25a0 Multifamily rents increased by 1.6% on a year-over-year basis in April, the largest increase that we have seen since the beginning of the pandemic.<\/p>\n\n\n\n<p>\u25a0 Overall rents increased by $10 in April to $1,417. The last time overall rents increased by that amount in a month was June 2015. Out of our top 30 markets, 24 had month-over-month rent growth greater than 0.5%. Gateway markets continued their path to recovery this month, with<br>all gateway markets showing positive MoM gains in April.<\/p>\n\n\n\n<p>\u25a0 Only six markets out of our top 30 had negative year-over-year rent growth this month. One of the six, Austin (-0.1%), is poised to turn positive next month, given the strong MoM gains. The other five markets had solid MoM gains, as well, but are a little further behind in their rebound.<\/p>\n\n\n\n<hr class=\"wp-block-separator has-css-opacity\"\/>\n\n\n\n<p>Nationally, the <a href=\"https:\/\/www.yardimatrix.com\/blog\/category\/real-estate-trends\/multifamily-market\/national-reports\/\" target=\"_blank\" rel=\"noreferrer noopener\"><strong>multifamily market<\/strong><\/a> continues to show strength, with rents increasing the most on a year-over-year basis since March 2020 and on a dollar amount basis since June 2015.<\/p>\n\n\n\n<p>Markets that have been hot for years continued to show strength in April, with the Inland Empire (9.4%) almost to double-digit rent growth on a year-over-year basis. The difference this month is that now we are seeing metros that have struggled during the last year post solid month-over-month gains.<\/p>\n\n\n\n<p>All gateway markets are beginning to recover, with some further along in the recovery process than others. Miami leads the gateway markets with 0.8% rent growth on a trailing 3-month basis. All other gateways had positive trailing 3-month rent growth, as well, with Chicago (0.5%) and Boston (0.4%) showing strong gains. Washington, D.C. (0.2%), New York, San Francisco and Seattle (all 0.1%) are a few months behind in the recovery process, but we expect the gains in these markets to strengthen as we head into the summer.<\/p>\n\n\n\n<p>The Inland Empire, Sacramento (8.4%) and Phoenix (8.1%) have been leading all markets for rent growth for the past few years, and the pandemic has only accelerated that trend. Over a five-year period, rents in the Inland Empire have increased by 31%. Rents in Sacramento and Phoenix have increased by 34%.<\/p>\n\n\n\n<p>To put that in perspective, national rents have increased by 12% over a five-year period. Five years ago, overall rents were extremely low in each of the three aforementioned markets, with plenty of room to run. But with such strong growth over the past five years, when will rents<br>begin to taper off in these markets?<\/p>\n\n\n\n<p>Read the full <strong><a href=\"https:\/\/www.yardimatrix.com\/publications\/download\/file\/1248-MatrixMultifamilyNationalReport-April2021?utm_source=Matrix-Blog&amp;utm_medium=Social\" target=\"_blank\" rel=\"noreferrer noopener\">Matrix Multifamily National Report-April 2021<\/a><\/strong><\/p>\n\n\n\n<div style=\"height:100px\" aria-hidden=\"true\" class=\"wp-block-spacer\"><\/div>\n","protected":false},"excerpt":{"rendered":"<p>Multifamily Market Continues to Show Strength \u25a0 Multifamily rents increased by 1.6% on a year-over-year basis in April, the largest increase that we have seen since the beginning of the pandemic. \u25a0 Overall rents increased by $10 in April to $1,417. The last time overall rents increased by that amount in a month was June [&hellip;]<\/p>\n","protected":false},"author":650,"featured_media":981,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_jetpack_memberships_contains_paid_content":false,"footnotes":""},"categories":[5,13,4],"tags":[221],"class_list":["post-980","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-multifamily-market","category-national-reports","category-real-estate-trends","tag-multifamily-outlook-2021"],"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>Yardi Matrix National Multifamily Outlook - April 2021 - Yardi Matrix Blog<\/title>\n<meta name=\"description\" content=\"Nationally, the multifamily market continues to strengthen, with record-breaking year-over-year growth in April.\" \/>\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\/yardi-matrix-national-multifamily-outlook-april-2021\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"Yardi Matrix National Multifamily Outlook - April 2021\" \/>\n<meta property=\"og:description\" content=\"Nationally, the multifamily market continues to strengthen, with record-breaking year-over-year growth in April.\" \/>\n<meta property=\"og:url\" content=\"https:\/\/www.yardimatrix.com\/blog\/yardi-matrix-national-multifamily-outlook-april-2021\/\" \/>\n<meta property=\"og:site_name\" content=\"Yardi Matrix Blog\" \/>\n<meta property=\"article:published_time\" content=\"2021-05-11T07:44:08+00:00\" \/>\n<meta property=\"article:modified_time\" content=\"2023-09-12T14:57:27+00:00\" \/>\n<meta property=\"og:image\" content=\"https:\/\/www.yardimatrix.com\/blog\/wp-content\/uploads\/sites\/39\/2021\/05\/April-MF-National-iStock-1307053758.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=\"lilianam\" \/>\n<meta name=\"twitter:card\" content=\"summary_large_image\" \/>\n<meta name=\"twitter:label1\" content=\"Written by\" \/>\n\t<meta name=\"twitter:data1\" content=\"Jeff Adler\" \/>\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":"Yardi Matrix National Multifamily Outlook - April 2021 - Yardi Matrix Blog","description":"Nationally, the multifamily market continues to strengthen, with record-breaking year-over-year growth in April.","robots":{"index":"index","follow":"follow","max-snippet":"max-snippet:-1","max-image-preview":"max-image-preview:large","max-video-preview":"max-video-preview:-1"},"canonical":"https:\/\/www.yardimatrix.com\/blog\/yardi-matrix-national-multifamily-outlook-april-2021\/","og_locale":"en_US","og_type":"article","og_title":"Yardi Matrix National Multifamily Outlook - April 2021","og_description":"Nationally, the multifamily market continues to strengthen, with record-breaking year-over-year growth in April.","og_url":"https:\/\/www.yardimatrix.com\/blog\/yardi-matrix-national-multifamily-outlook-april-2021\/","og_site_name":"Yardi Matrix Blog","article_published_time":"2021-05-11T07:44:08+00:00","article_modified_time":"2023-09-12T14:57:27+00:00","og_image":[{"width":1200,"height":628,"url":"https:\/\/www.yardimatrix.com\/blog\/wp-content\/uploads\/sites\/39\/2021\/05\/April-MF-National-iStock-1307053758.jpg","type":"image\/jpeg"}],"author":"lilianam","twitter_card":"summary_large_image","twitter_misc":{"Written by":"Jeff Adler","Est. reading time":"2 minutes"},"schema":{"@context":"https:\/\/schema.org","@graph":[{"@type":"Article","@id":"https:\/\/www.yardimatrix.com\/blog\/yardi-matrix-national-multifamily-outlook-april-2021\/#article","isPartOf":{"@id":"https:\/\/www.yardimatrix.com\/blog\/yardi-matrix-national-multifamily-outlook-april-2021\/"},"author":{"name":"lilianam","@id":"https:\/\/www.yardimatrix.com\/blog\/#\/schema\/person\/877efe30f5be34ed3f8b5f334c96a8e0"},"headline":"Yardi Matrix National Multifamily Outlook &#8211; 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