Demand for multifamily units settled somewhat in the third quarter as household formation normalized and inflation began to hit consumers’ budgets, following an extended period in which the asset class was riding high.

A new report from Marcus & Millichap rotes that the average effective monthly rent in the U.S. rose nearly 16 percent in 2021, with some Sun Belt markets rising more than 25 percent last year alone. But about 80,000 fewer households were created in the first half of the year, cooling the market as economic headwinds picked up speed.

Lynn Pollack


GlobeSt. Multifamily Fall 2022Event

Join the industry's top owners, investors, developers, brokers & financiers at THE MULTIFAMILY EVENT OF THE YEAR!

Get More Information


Join GlobeSt

Don't miss crucial news and insights you need to make informed commercial real estate decisions. Join now!

  • Free unlimited access to's trusted and independent team of experts who provide commercial real estate owners, investors, developers, brokers and finance professionals with comprehensive coverage, analysis and best practices necessary to innovate and build business.
  • Exclusive discounts on ALM and GlobeSt events.
  • Access to other award-winning ALM websites including and

Already have an account? Sign In Now
Join GlobeSt

Copyright © 2022 ALM Global, LLC. All Rights Reserved.