Chart Of The Week – Change in NER by MSA

We are excited to share with you the Chart of the Week! Through our real-time data, we are building a series of visuals, charts, and graphs depicting the most important trends in the multifamily industry. This week we are analyzing the change in NER by MSA.

Change in NER by MSA

Rents have slowed down significantly in most markets throughout 2022, and while we won’t see rent growth as we did in 2021 any time soon, the year-over-year growth remains historically strong in many markets. On a same-store basis, Charleston rents grew the fastest over the past year, followed by some large coastal markets in the Bay Area and New York. Las Vegas, Phoenix, and Jacksonville, some of the fastest-growing markets following the COVID-19 pandemic, saw rents fall in the last twelve months as the rapid rent growth finally caught up with these markets.

Follow the series on LinkedIn and radix.com/research and share your feedback! We would love to hear from you with suggestions for future trends to cover!