US Multifamily Report, March 2022
- Seattle, Portland, San Francisco
- 2022/05/09
The national avg asking rent has decelerated compared to the pace of 2021, but otherwise marked new record gains in March 2022. The avg growth rate ↑ 0.5% to 14.8% YoY, bringing the overall avg rent to an all-time high of ~$1.6K, ↑ $14.It’s expected that rent growth will moderate below 2021 levels, especially compared to the levels seen in Q2 2021. Estimates put the number of new households formed in 2021 in the 2M range, while for 2022, household growth and absorption are expected to ↓ ~50%.
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