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Multifamily Metro Reports
Information is developed through a combination of original research studies, and reference to secondary sources. Our manner of resourcing and compiling information is defined within this section.
Multifamily Metro Reports
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Matrix Multifamily Salt Lake City Report-October 2024
After five years of stock expansion , Salt Lake City experienced a slight 10 bps loosening in occupancy but a 1.6 percent drop in average advertised asking rents YoY, while the U.S. average rose 0.8 percent.
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Matrix Multifamily Richmond Report-October 2024
Richmond’s advertised asking rents rose 0.3 percent on a T3 basis through August, to $1,542, 20 bps ahead of the U.S. average. That was despite robust supply, with 3,934 units coming online YTD, up 500 YoY, and starts only slightly down.
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Matrix Multifamily Portland Report-Octorber 2024
Advertised asking rents in Portland were up 0.4 percent on a T3 basis, to $1,775, 30 bps above the national average. The metro’s supply pipeline represented 2.8 percent of existing stock, 110 basis points higher than the U.S. rate of completions.
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Matrix Multifamily Pittsburgh Report-October 2024
Pittsburgh advertised asking rents increased 0.4 percent on a T3 basis through August to $1,388, while the U.S. rate rose only 0.1 percent . Occupancy also outpaced the nation, rising to 95.5 percent as of July.
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Matrix Multifamily Orange County Report-October 2024
Orange County’s stock had expanded just 0.7 percent year-to-date in August, with occupancy inching down 10 bps YoY through July to 96.6 percent. Continued demand boosted rent growth by 0.7 percent YoY through August to an advertised asking rate of $2,772, while the per-unit sales price rose 5.6 percent year-to-date.
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Matrix Multifamily Miami Report-October 2024
Advertised asking rents in South Florida remained flat on a T3 basis, at $2,449, 10 bps below the national average. The metro’s occupancy was also unchanged YoY,at 95.5 percent in July.
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Matrix Multifamily Indianapolis Report-October 2024
Indianapolis’ advertised asking rents were up 3.0 percent YoY through August, well above the 0.4 percent national average. Bucking trends, completions through the first eight months reached 3,149 units, just 300 short of last year’s total.
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Matrix Multifamily Cleveland Report-October 2024
Cleveland advertised asking rents increased 0.2 percent on a T3 basis through August to $1,196, while the national average rose only 10 bps . Occupancy rate slid just below the national average of 94.7 percent.