Yardi Matrix Report Highlights Steady Multifamily Market Growth

SANTA BARBARA, California, Feb. 6, 2020 /PRNewswire/ -- A steady national job market and positive demographic trends suggest that the U.S. multifamily market's long run of consistent performance will continue, according to a new market analysis from Yardi® Matrix.

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With the occupancy rate of stabilized properties remaining near 95% and wages growing at a reasonable level, "rent gains should remain healthy in most metros" in 2020, the report says. Downsizing baby boomers and household-forming millennials have fueled demand. Yardi Matrix anticipates that new supply will approach 300,000 units this year, led by tech centers and popular lifestyle markets such as Seattle, Denver, Raleigh, N.C., and Nashville, Tenn.

Affordability is a growing problem and the high cost of rents is "starting to put a strain on increases in many of the higher-cost metros," according to the report. Other potential tailwinds include slowing economic growth in Europe and China, trade tensions with Beijing and unrest in the Middle East. But barring a major shock, "the fundamentals of supply, demand and cost of capital remain very well balanced and indicate continued steady growth for the foreseeable future."

Get ready for an eventful year with a full report on rent growth, supply and capital market trends. Download the Yardi Matrix U.S. multifamily outlook for winter 2020.

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, student housing, industrial, office and self storage property types. Email matrix@yardi.com, 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.

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SOURCE Yardi