Matrix Multifamily National Report-July 2022 August 10, 2022

Multifamily Rent Growth Slows, But Still Strong

U.S. multifamily performance remains strong. Despite a deceleration in rent growth, asking rents are up 12.6% year-over-year through July, as demand continues to exceed supply. The National Multifamily Housing Council estimates that the U.S. needs 4.3 million new units built through 2035 to meet demand.