Inland Empire Multifamily MarketView Figures Q1 2021

June 24, 2021

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The IE multifamily market remained healthy in Q1, with a record-low vacancy rate and strong rent growth. Inland Empire rents grew 9.4% from the prior year, the largest YOY rent increase in the last 20 years and the highest rent increase in the nation.

Demand in the Inland Empire was slightly lower than new completions at 54 units in Q1 2021.

The vacancy rate in the Inland Empire was 1.8% in Q1—down 190 basis points (bps) year-over-year. The vacancy rate was the lowest in the U.S. as suburban markets outperformed urban core markets due to shifting migration patterns.

Q1 investment in Inland Empire multifamily totaled $111.3 million, down 54% year over year.