Regional assessment of multifamily trends identifies slower growth in Northeast and Midwest
SANTA BARBARA, Calif., March 16, 2020 – 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
- More than half of nearly 300,000 multifamily units delivered last year were in the Southeast or West
Find all the regional performance insights in the Yardi Matrix regional multifamily report for March 2020.
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