U.S. Multifamily Market’s Stability Highlighted in Yardi Matrix Report

Strong demand and rent growth contrast with stock and bond markets’
volatility

SANTA BARBARA, Calif.,
Oct. 9, 2019 – Even though
U.S. multifamily rents declined in September 2019, the market “remains the
picture of stability” amid turbulence in the larger financial world, according to
a new report from Yardi®
Matrix.

The average national
rent fell $1 to $1,471 in the month. However, rents are up 2.9% year-to-date, putting
3% growth for the full year, which has happened five of the last six years,
within reach. “There is no evidence to indicate that slow, steady growth will
not continue for a while,” the report says.

With the national
occupancy rate consistently above 95% and no slowdown in demand, “it’s no
wonder that investors looking for a safe haven and surprise-free returns have
identified multifamily as an asset class in which to increase allocations,” the
report notes.

The August list
of rent growth leaders remained virtually unchanged in September, with Las
Vegas and Phoenix continuing to hold the top spots. Boston and Sacramento,
Calif., switched places while Charlotte, N.C., edged Austin, Texas, out of
fifth place.

Download the Yardi Matrix multifamily national report
for September 2019 for more insight into supply, occupancy and the federal
government’s plan to reform Fannie Mae and Freddie Mac.

Yardi Matrix offers the industry’s
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, industrial, office
and self storage property types. Email [email protected], call 480-663-1149 or visit yardimatrix.com to learn more.

About Yardi

Yardi^® develops and
supports industry-leading investment and property management software for all
types and sizes of real estate companies. Established in 1984, Yardi is based
in Santa Barbara, Calif., and serves clients worldwide. For more information on
how Yardi is Energized for Tomorrow, visit yardi.com.