Multifamily market data: Multifamily housing rents up 14.3% in 2022

“Can’t stop, won’t stop” is starting to feel like an appropriate tagline for the U.S. multifamily sector as it maintains more than a year-long streak of record growth.

According to the latest Yardi Matrix Multifamily Report, the average U.S. asking rent rose $15 in April to an all-time record $1,659. Year-over-year growth moderated by 50 basis points but remains high at 14.3 percent.

“Although there are a few weak spots, multifamily demand and rent growth remain incredibly strong throughout the country,” state Matrix analysts in the new report. “Of our top 30 metros, rent growth was up at least 8.8 percent over the last year in all but one.”

Rent growth was also positive in all 30 metros over the last one-month, three-month and 12-month periods. Markets in Florida and the Southwest maintained the top spots in year-over-year rankings, but more recently Boston, New York, San Jose and Philadelphia have been the top performers.

Additionally, the average single-family asking rent in the U.S. reached an all-time high of $2,018 in last month. Year-over-year growth for single-family homes dropped 110 basis points to 13.2 percent.

How long can the multifamily market’s superb performance continue? Deceleration is anticipated any month now, due to economic contraction, surging inflation, interest rate hikes and ongoing supply-chain issues. Learn more in the latest multifamily report.

Design-focused wine displays are becoming increasingly popular in amazing residential and commercial properties throughout the world. Top design/build professionals are using stylish wine racks and other premium materials to create wine cellars that are too beautiful to hide in out-of-the-way places like dusty basements. This course explains why wine cellars have become so popular and the key aspects of designing an appealing modern wine cellar, broken into six planning steps that should be considered during pre- or early-construction phases.

Rooftop paving system in a multifamily housing community.

Choosing the right paver system for rooftop amenity spaces

This AIA course by Hoffmann Architects offers best practices for choosing the right paver system for rooftop amenity spaces in multifamily buildings.

Building Team | May 6, 2022

Atlanta’s largest adaptive reuse project features cross laminated timber

Global real estate investment and management firm Jamestown recently started construction on more than 700,000 sf of new live, work, and shop space at Ponce City Market.

Rendering of Columbus Apartments, designed by Rhode Partners

Multifamily Housing | May 5, 2022

An Austin firm touts design and communal spaces in its student housing projects

Rhode Partners has multiple towers in various development stages.

For glass openings, how big is too big?

Advances in glazing materials and glass building systems offer a seemingly unlimited horizon for not only glass performance, but also for the size and extent of these light, transparent forms. Both for enclosures and for indoor environments, novel products and assemblies allow for more glass and less opaque structure—often in places that previously limited their use.

Multifamily Housing | May 3, 2022

Call for Kitchen+Bath projects and products – for next issue of "MULTIFAMILY Design+Construction" (no charge to participate!)

Multifamily AEC firms and developers and product manufacturers can submit Kitchen+Bath projects and products – for the next issue of "MULTIFAMILY Design+Construction."

The Larking is a mixed-use development in the Twin Cities market. Images: Courtesy of Kraus-Anderson

Multifamily Housing | May 1, 2022

Kraus-Anderson helps fill void in tight Twin Cities housing market

One project just came online, and another apartment building should be completed this summer.

Multifamily Housing | Apr 26, 2022

Fitness centers for multifamily housing: Advice from 'Dr. Fitness,' Karl Smith

In this episode for HorizonTV, Cortland's Karl Smith shares best practices for designing, siting, and operating fitness centers in apartment communities.