High-quality Inland Empire multifamily properties offer lower rents

The Inland Empire’s multifamily housing market has undergone a dramatic shift in rent growth trends in recent years. Annual overall rent growth has moderated to just 0.5%, reflecting a broader stabilization following the pandemic-era surge. Trends are nuanced across asset classes. Mid-quality, three-star properties lead the market with rent growth of 1.3%, closely followed by one- and two-star buildings at 1.2%. These segments, typically representing mid-tier and affordable housing, have shown at least some resilience.