Figures

Inland Empire Multifamily Figures Q1 2024

May 13, 2024 4 Minute Read

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  • Market vacancy remained at 5.4% from Q4 2023 to Q1 2024, maintaining occupancy at 94.6%
    The Inland Empire finished Q1 2024 at negative 184 units, continuing the positive trend from Q4 2023.
  • Rents increased quarter-over-quarter by $2.41 per unit. Year-over-year, rents decreased 1.1% as the multifamily market normalized after the Pandemic Era rent market conditions.
  • The IE ranked the 16th highest in the top 20 metropolitan areas in the country for rent-per-unit at $2,201 per unit, which was $38 higher than the national average of $2,163 rent-per-unit. Development remained strong with 8,411 units under construction in Q1 2024.
  • Capital markets transaction volume totaled $33.4 million. Five properties comprised of 410 units exchanged ownership in Q1 2024.