Inland Empire Q3 Multifamily Market Report: Operational Strength Spurring Investor Interest

Highlights:

Image

• The Inland Empire multifamily market outperformed its California peers in the third quarter. Local rents held steady, while vacancy inched lower.
• After rising 50 basis points from the final quarter of 2019 to the second quarter this year, multifamily vacancy got back on track. In the third quarter, the vacancy rate dipped 10 basis points to 3.7 percent.
• Apartment rents ended the third quarter at $1,459 per month, 3.4 percent higher than one year earlier.
• The multifamily investment market picked up steam in the third quarter. Prices also increased, bringing the year-to-date median to approximately $234,900 per unit.

Read the report