Inland Empire Multifamily Market Outlook 2Q 2017
The Inland Empire’s multifamily market experienced falling vacancy and rising rents in the second quarter of 2017. The vacancy rate for multifamily housing registered 4.0%, which is the lowest level on record. Vacancy decreased 20 basis points over the quarter and 30 basis points from this time last year. Average asking rent continued to rise in the second quarter, extending the streak to 26 consecutive quarters of rent growth.