Multifamily Trends

03 / 16 / 20

Last edited 02 / 22 / 26

2 min read

Multifamily housing performance has been strong across the U.S. during the current economic cycle, but there are notable regional differences in market health, investor demand and economic growth, says the latest Yardi Matrix regional multifamily report.

The report analyzes rent growth, occupancy, supply growth and transaction volume in 130 metros between 2016 and 2019. The strongest performances were delivered by metros in the Southeast, Southwest and Western U.S., while the Northeast and Midwest were slightly behind.

Key takeaways from the report:

The Southeast, Southwest and Southeast have outperformed in rent growth, employment and transaction volume
The West and Southwest have led in rent growth for most of the economic cycle
Led by the Northeast, occupancy rates at the end of 2019 were nearly 95 percent in every region except the Southwest
The Northeast ($2,066) and West ($1,824) have the highest rents in the nation
New investment is highest in the Southeast and West, which accounted for 60 percent of multifamily transaction activity last year

“Robust demand to add multi-family properties to portfolios pushed deal flow to an all-time high of $119.5 billion in 2019,” notes the report. Nearly 300,000 multifamily units were delivered last year nationwide.

Find all the regional performance insights and learn what’s happening in your region in the Yardi Matrix regional multifamily report.

AUTHOR

Leah Etling is the founding editor of the Balance Sheet and a 12-year Yardi employee who also oversees press releases and social media. An award winning journalist, she holds a master's degree from UC Berkeley and is a native of Santa Barbara County, Yardi's home.

Multifamily Trends

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