Matrix Multifamily National Report-October 2024 November 13, 2024

Multifamily Rents Drop; Election Heralds Change

Multifamily and SFR rents fell in October as supply growth continues to delineate the direction of rents by metro. At the same time, the drop in starts presages another wave of rent growth in 2026 and beyond. Meanwhile, the market has begun to anticipate changes from the new administration in 2025.