Amid quickly rising rates of interest and nonetheless murky economic system outlook, the multifamily market within the U.S. is starting to really feel the impression. Multifamily rents continued to rise this October, by 8.2 p.c year-over-year to a median of $1,727. Nevertheless, the progress was the slowest recorded since mid-2021, in accordance with the October Nationwide Multifamily Report from knowledge agency Yardi Matrix.
But even on this atmosphere of slower progress, 25 of the 30 high U.S. markets posted multifamily lease progress of 5.0 p.c or extra. And lots of the high markets have reached lease progress nearer to 10.0 or 11.0 p.c. Right here’s Yardi Matrix’ breakdown of the place these markets are, together with forecasts for his or her multifamily lease progress for the total yr 2022.