Even as interest rates rise and inflation pressures deals, the multifamily sector remains strong, with occupancy rates remaining high and rents staying relatively solid.

Overall, supply and demand for the asset class remains out of balance: asking rents for existing units are up 12.6% year-over-year through July, and the US is currently estimated to be at a 600,000-unit apartment shortage, according to the National Multifamily Housing Council and the National Apartment Association. Yardi Matrix data shows that occupancy sits at around 96% nationally as of June 2022.

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Lynn Pollack

GlobeSt

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