Matrix Multifamily National Report-June 2022 July 12, 2022

No Swoon, Multifamily Rents Rise in June

Multifamily continued its strong rent growth in June, with average U.S. asking rents rising $19 for the month to an all-time high of $1,706. Robust household formation is driving demand, as people who lived with family or friends during the pandemic have formed independent households. However, absorption is slowing, presaging a second-half deceleration.