Matrix Multifamily National Report-November 2023 December 05, 2023

Multifamily Rents Drop While Occupancy Stabilizes

Multifamily rents dipped in November, with the short-term outlook clouded by inflation, cooling job growth and the Sun Belt’s heavy delivery pipeline. A longer view, however, is more bullish, due to extraordinary rent growth over the last three years and prospects that demand will continue to match supply.