Wednesday, 20 April 2022 / Published in Base4

Developers: Multifamily rent growth increases 27%!

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Market confident for multifamily housing improved during 2021’s fourth quarter and exceeded normal seasonal patterns.¹

Average asking rents rose $10 in February, reaching another record of $1628.

At the end of 2020, significant rent decreases occurred in large metro suburban areas, small metro suburbs, and non-metro/ non-micro counties (rural areas). One year later, there has been clear improvement.

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The Top Multifamily Markets

Miami, Tampa, Orlando, Phoenix, and Los Vegas claim the top spots in nationwide job creation and household formation, which in turn are fostering outsized jumps in rent.² High rates of rent growth, bolstered by robust in-migration, distinguish many of the top-performing metropolitan areas in the Index.

See some of the other front-runners below:

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