U.S. Multifamily Sector Remains on the Upswing, According to New Yardi Matrix Report
Job growth and in-migration seen as keys to growth in 2019
SANTA BARBARA, Calif., Jan. 17, 2019 – The multifamily cycle hasn’t run out of steam despite signs of a slowdown in the economy, according to a new market analysis by Yardi® Matrix.
The report projects that “cracks in the economic armor will likely begin to show” this year as the 2017 tax reform’s impact fades and trade uncertainties grow. However, demand in the multifamily industry “is expected to stay healthy as long as job growth remains positive and young adults and retirees choose apartments,” the report states, adding that “2019 should be another good year for the multifamily industry.”
The analysis foresees rent increases ranging from 2.5% to 3%, led by metros in the South and West and fast-growing tertiary markets such as Tacoma, Wash., Colorado Springs, Colo., and Reno, Nev. Rents grew by 3.2% nationwide in 2018.
View the full Yardi Matrix U.S. Multifamily Outlook, titled “Strong Performance in an Aging Cycle,” for additional details and insight into trends affecting the rental sector in 2019.
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.