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Look Who’s Trending High in Multifamily Markets

Three Southeastern markets that have recently re-entered the top 10 after absorbing significant amounts of new supply.

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SCOTTSDALE, AZ—The multifamily market is on track to deliver another stellar year as numbers continue to come in from October’s performance. Yardi Matrix reports that average US rents rose $1 for the month to $1,476, reaching yet another all-time high, while year-over-year growth has been at least 3% for more than a year.

Indeed, rent growth has been steady for the past few months, after decelerating from a 2019 high of 3.5% in May. “The fourth quarter is often a slower time for rent growth, but continuous demand and a slowly growing economy will likely keep rent growth above its long-term average,” says Yardi Matrix’s October report.

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Erika Morphy

Erika Morphy

Erika Morphy has been writing about commercial real estate at GlobeSt.com for more than ten years, covering the capital markets, the Mid-Atlantic region and national topics. She's a nerd so favorite examples of the former include accounting standards, Basel III and what Congress is brewing.

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