{"id":38789,"date":"2024-10-10T08:38:42","date_gmt":"2024-10-10T15:38:42","guid":{"rendered":"https:\/\/www.yardi.com\/blog\/?p=38789"},"modified":"2026-02-27T02:34:10","modified_gmt":"2026-02-27T10:34:10","slug":"multifamily-update-8","status":"publish","type":"post","link":"https:\/\/www.yardi.com\/blog\/multifamily-update-8\/","title":{"rendered":"Multifamily Update"},"content":{"rendered":"

Seasonality and supply are tempering advertised asking rent growth but demand remains strong, according to the latest\u00a0Yardi Matrix National Multifamily Report<\/a>.<\/p>\n

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The average U.S. advertised asking rent decreased by $3 in September to $1,750, flat at 0.9 percent year-over-year (YoY). Occupancy stood at 94.8 percent in September, unchanged YoY.<\/p>\n

Gateway markets in the East and secondary markets in the Midwest continue to lead in YoY advertised asking rent growth, run by New York City (5.4 percent), Kansas City (4.2 percent) and Boston (3.4 percent). Supply increases continue to pressure asking rents in many Sun Belt metros, and the largest declines YoY were posted by Austin (-4.9 percent), Raleigh (-3.1 percent) and Phoenix (-2.4 percent).<\/p>\n

Post-pandemic demand has led to 1.7 million multifamily units absorbed between March 2020 and August 2024. All 132 markets surveyed experienced positive absorption, with Dallas (108,000 units) and Houston (71,000 units) in the lead.<\/p>\n

Single-family rentals advertised asking rents decreased $3 in September to $2,167, for a 0.6 percent YoY increase, with Kansas City (4.7 percent YoY) and Indianapolis (4.3 percent) posted the strongest growth. SFR occupancy declined 30 basis points to 95.3 percent in August.<\/p>\n

Gain more insight in the new\u00a0Yardi Matrix National Multifamily Report<\/a>.<\/p>\n

Yardi Matrix offers the industry\u2019s most comprehensive market intelligence tool for investment professionals, equity investors, lenders and property managers who underwrite and manage investments in commercial real estate. Yardi Matrix covers multifamily, affordable housing, student housing, vacant land, industrial, office, retail and self storage property types. Email\u00a0matrix@yardi.com<\/a>, call 480-663-1149 or visit\u00a0yardimatrix.com<\/a>\u00a0to learn more.<\/p>\n","protected":false},"excerpt":{"rendered":"

Seasonality and supply are tempering advertised asking rent growth but demand remains strong, according to the latest\u00a0Yardi Matrix National Multifamily Report. The average U.S. advertised asking rent decreased by $3 in September to $1,750, flat at 0.9 percent year-over-year (YoY). Occupancy stood at 94.8 percent in September, unchanged YoY. Gateway markets in the East and […]<\/p>\n","protected":false},"author":442,"featured_media":38790,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"_s2mail":"yes","_jetpack_memberships_contains_paid_content":false,"footnotes":""},"categories":[2791],"tags":[1169],"class_list":["post-38789","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-matrix","tag-yardi-matrix"],"acf":[],"yoast_head":"\nYardi Blog<\/title>\n<meta name=\"description\" content=\"Seasonality and supply are tempering advertised asking rent growth but demand remains strong, according to the latest\u00a0Yardi Matrix National Multifamily\" \/>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/www.yardi.com\/blog\/multifamily-update-8\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"Multifamily Update\" \/>\n<meta property=\"og:description\" content=\"Seasonality and supply are tempering advertised asking rent growth but demand remains strong, according to the latest\u00a0Yardi Matrix National Multifamily\" \/>\n<meta property=\"og:url\" content=\"https:\/\/www.yardi.com\/blog\/multifamily-update-8\/\" \/>\n<meta property=\"og:site_name\" content=\"Yardi Blog\" \/>\n<meta property=\"article:published_time\" content=\"2024-10-10T15:38:42+00:00\" \/>\n<meta property=\"article:modified_time\" content=\"2026-02-27T10:34:10+00:00\" \/>\n<meta property=\"og:image\" content=\"https:\/\/www.yardi.com\/blog\/wp-content\/uploads\/sites\/15\/2024\/10\/MF-Matrix-sept.jpg\" \/>\n\t<meta property=\"og:image:width\" content=\"1280\" \/>\n\t<meta property=\"og:image:height\" content=\"880\" \/>\n\t<meta property=\"og:image:type\" content=\"image\/jpeg\" \/>\n<meta name=\"author\" content=\"Yardi Blog Staff\" \/>\n<meta name=\"twitter:card\" content=\"summary_large_image\" \/>\n<meta name=\"twitter:label1\" content=\"Written by\" \/>\n\t<meta name=\"twitter:data1\" content=\"Yardi Blog Staff\" \/>\n\t<meta name=\"twitter:label2\" content=\"Est. reading time\" \/>\n\t<meta name=\"twitter:data2\" content=\"2 minutes\" \/>\n<script type=\"application\/ld+json\" class=\"yoast-schema-graph\">{\"@context\":\"https:\/\/schema.org\",\"@graph\":[{\"@type\":\"WebPage\",\"@id\":\"https:\/\/www.yardi.com\/blog\/multifamily-update-8\/\",\"url\":\"https:\/\/www.yardi.com\/blog\/multifamily-update-8\/\",\"name\":\"Multifamily Update - 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