Multifamily Market 2022 PowerPoint Presentation

An Accelerating Market Slows

• The multifamily market experienced two entirely different effects of the pandemic. During 2020 and into 2021, demand decreased significantly; however, demand for multifamily housing increased just as significantly from April 2021 through March 2022.
• This pent-up demand and a return to more “normal” business and employment levels by Q2 2021 caused a 15% YOY increase in the national rent average through Q2 2022. This rate of increase was unsustainable because inventory could not match demand.
• Although employment growth moderated by March 2022, rental rates accelerated in parallel, including for older, less-expensive properties. With other household costs increasing, many lower-income households found it difficult to pay their rent.

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