Beekin, a leading real estate Big Data analytics company, has released its highly anticipated US Rental Housing Report: 2022 in Review. This publication provides a comprehensive analysis of multifamily and single-family rental price changes across US states and Metropolitan Statistical Areas.
The report reveals that nationwide the multifamily index was up by 3.8%. Among the key findings, Arkansas recorded a year-over-year increase of 9.57% in multifamily rental rates in Q4 2022, followed by Mississippi with 9.31% and Vermont with 9.03%. Only two states had multifamily rental rates below the year-ago level, with Nevada falling by 4.60% and Wyoming down a slight 0.06%.
Nationally, single-family rental rates were down by 5.09% in 2022. However, despite the broad downturn, three states still recorded an increase in SFR rental rates in Q4 2022. South Dakota, which has seen rental rates increase in every quarter since Q2 2017, was up by 0.82% from the quarter before. Rents in Delaware were up by 0.42%, and rents in New Mexico were up by 0.39%.
“We are pleased to release our US Rental Housing Report for 2022, which provides valuable insights into the multifamily and single-family rental markets,” said Vidur Gupta, Founder and CEO of Beekin. “Our innovative AI-driven approach to real estate analysis ensures that our customers can make better-informed decisions about their investments and stay ahead of the curve in a dynamic industry.”
Beekin’s US Rental Housing Report: 2022 in Review is a must-read for real estate investors, developers, property managers, and anyone interested in the state of the US rental market. The full report is available to download here.
Beekin is a next-generation AI platform for institutional investors and lenders to rental housing. By leveraging Big Data and advanced machine learning, Beekin patented solutions drive efficiency through better underwriting, better asset management, and higher social impact for investors and lenders to multifamily and single-family real estate.
Beekin believes that better information can build an efficient market. Its solutions have helped create happy homes for thousands of renters nationwide. Beekin works with Top-5 CRE asset managers, NMHC top-5 multifamily property managers, and lenders in the United States.
The Beekin team comprises scientists from 7 of the top 20 research universities and former real estate investors from top-5 banks. For more information, please visit beekin.co.