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According to the latest Yardi Matrix Multifamily Report, the average U.S. multifamily rent was $1,748 in October, 2024. Year-over-year growth was 0.9%. Yardi says demand remains strong enough to balance the increase in deliveries in most markets.
“Through September 2024, 329,000 apartment units have been absorbed, putting the market in line for one of its better recent years. Supply has grown slightly more than absorption prompting the U.S. occupancy rate for stabilized properties to drop 10 basis points to 94.7%.”
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