The small multifamily sub-sector remains in a favorable position to withstand macroeconomic instability.

Multifamily rent growth remained strong in the San Antonio market during the third quarter of 2022, although began showing deceleration from the most recent record highs measured earlier in the year. Barriers to homeownership continued to drive rental demand, as vacancy rates reached all-time lows.

The U.S. multifamily market continued to expand during the third quarter of 2022, although at a more modest pace. Additionally, some new areas have shown up on the list of top rent growth markets.

The U.S. multifamily market continued to expand during the third quarter of 2022, although at a more modest pace.

Small multifamily prices continued to press higher at a double-digit annual rate in the second quarter of 2022 and cap rates sank to new all-time lows.

The U.S. multifamily market posted a historic showing in the second quarter of 2022. Rent and price growth remained at all-time highs, while vacancy and cap rates improved to the lowest levels since the onset of the pandemic. Among the nation’s top markets, the Sunbelt region continued to shine.