National + Apartments | July 2, 2021

Gateway Apartment Markets May Not Hit Their Stride Until 2022

The pace of the post-pandemic multifamily recovery will be determined by location, Yardi Matrix says in a new report.

“Most markets see an upward revision in the near term as the vaccine rollout proceeds faster than expected and more states and cities begin to reopen,” the report says. “However, gateway cities are still lagging somewhat in their rebound and may not hit their full growth potential until 2022.”

Through the fall, rent gains will likely continue as vaccines continue and workplaces, businesses and cities fully reopen. Yet, that growth may be tempered due to typical seasonal factors as winter rolls in.

Gateway markets are experiencing “pent-up demand for the amenities that cities have to offer, and many markets will see record or near-record year-over-year growth by the end of the year,” the report states. “However, much of the gains in 2021 will merely be making up lost ground from 2020.”

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Yardi Matrix

About Paul Bubny

Paul Bubny serves as Senior Content Director for Connect Commercial Real Estate, a role to which he brings 13-plus years’ experience covering the commercial real estate industry and 30-plus years in business-to-business journalism. In this capacity, he oversees daily operations while also reporting on both local/regional markets and national trends, covering individual transactions across all property types, as well as delving into broader subject matter. He produces 15-20 daily news stories per day and works with the Connect team and clients to develop longer-form content, ranging from Q&As to thought-leadership pieces. Prior to joining Connect, Paul was Managing Editor for both Real Estate Forum and GlobeSt.com at American Lawyer Media, where he oversaw operations at both publications while also producing daily news and feature-length articles. His tenure in B2B publishing stretches back into the print era, and he has served as Editor in Chief on four national trade publications. Since 1999, Paul has volunteered as the newsletter editor of passenger rail advocacy groups (one national, one local).

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