Matrix Multifamily Inland Empire Report-December 2023 December 21, 2023

Inland Empire Rents Decrease

Fundamentals softened in the Inland Empire, with rent growth declining for the second straight month on a T3 basis through October to $2,113, while developers delivered just 571 units in 2023. Still, occupancy remained just above the 95 percent mark, outpacing the U.S. figure.