Report: Record First Quarter Growth for Multifamily but Economy Remains a Concern

Yardi Matrix reports a record-high for multifamily growth in Q1 of 2022, but tempered its analysis with caution about economic concerns moving forward. There are potential headwinds to rent growth with decline expected in some markets. 

• The Southwest and Southeast continue to be the strongest markets

Approximate year-over year rent growth for March, 2022 (average, all asset classes)

• Seattle: 16.4%
• Portland: 13.3%

Month-over-month rent growth (average, all asset classes)

• Seattle: 1.8%
• Portland: 1%

Rent growth forecast for 2022:

• Seattle: 6.4%
• Portland: 5.9%