The Radix Review: Multifamily Trends Explained

Radix
  • 5.0 (15)
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Covering the latest trends in multifamily housing, demographics, and economic insights, built off real time analytics at the property, submarket and market level.

  1. Multifamily Results Steady Despite Economic Headwinds

    4D AGO

    Multifamily Results Steady Despite Economic Headwinds

    Economic Headlines Impacts related to the conflict in the Middle East continue to dominate economic headlines. All data stated are based on the publication date of this report, and they are subject to change. · Crude Oil near $100/bbl: Up $30 since late February. · Gasoline at $3.72/gal: An 80-cent jump in 30 days. · Market Volatility: S&P 500 -2.4%; Dow -4.1% since the conflict began. · Mortgage Rates: Increased from 5.98% to 6.11%. Rising mortgage rates and market volatility are increasing the cost of homeownership, forcing many renters to delay their purchase plans and stay in the rental market longer. While this supports steady occupancy, the "inflation tax" on wallets from higher everyday costs may limit rent growth this year. Explore our webpage for more insights and resources: https://bit.ly/Radix_Website

    3 min
  2. Demand Impacted by Jobs and Energy

    MAR 11

    Demand Impacted by Jobs and Energy

    Labor Market Loses Momentum The February jobs report was weaker than expected, with the U.S. losing 92,000 jobs and falling well short of the growth economists projected. While the unemployment rate remains relatively low at 4.4%, the widespread nature of the decline—hitting everything from healthcare to construction—suggests a softening that could eventually impact renter household income and overall consumer confidence.  For multifamily operators, this is a troubling signal heading into leasing season. Job growth is key to absorbing new supply and increasing occupancy rates, but employment has declined in three of the past five months.   If this trend continues, it may push the Federal Reserve to reconsider rate reductions sooner than planned to help stabilize the broader economy, but inflation is facing a new challenge that is part of that decision. Consumers’ Pain at the Pump  On top of the labor news, the military campaign in Iran has led to the closure of key global shipping lanes, creating immediate ripples in the energy market. We’re already seeing these disruptions translate to higher prices at the pump, which effectively acts as a "stealth tax" on consumers and can tighten the discretionary budgets of renters.  At the time of this publication, AAA reported that the national average price for a gallon of regular gas was $3.58, up from $2.94 a month ago.   As gas prices climb, the Fed finds itself in a difficult spot—trying to manage a cooling job market while simultaneously watching for inflation risks driven by energy costs. For asset managers, this means the "higher-for-longer" interest rate environment might have a more complicated exit strategy than we hoped for at the start of the year.  Explore our webpage for more insights and resources: https://bit.ly/Radix_Website

    4 min
  3. Mortgage Rates Dip Below 6%

    MAR 3

    Mortgage Rates Dip Below 6%

    Prior to increased global tensions, mortgage rates hit a milestone as the average 30-year fixed-rate dropped to 5.98% last week—the first time the metric has dipped below 6% since September 2022. This slight decline from 6.01% the prior week (and 6.76% a year ago), paired with rising inventory, is expected to pull buyers off the sidelines if the lower mortgage rates persist or continue to decline. Additionally, Freddie Mac reports that refinancing applications have already doubled year-over-year. A resurgence in housing activity can add fuel to the broader economy. Refinancing frees up thousands in annual interest payments for consumer spending, while increased home sales drive job growth for supporting industries. As an example, Mohawk Industries’ CEO was recently quoted in The Wall Street Journal: “U.S. consumers [spend] an estimated five times as much on remodeling their flooring in the first year after buying a home than non-movers.” While these lower rates are a welcome reprieve for housing, the developing unrest in the Middle East remains a significant wildcard. We expect to see the first impacts reflected in energy costs at the pump, but the long-term effect on inflation and bond yields—and by extension, mortgage rates—remains to be seen. Explore our webpage for more insights and resources: https://bit.ly/Radix_Website

    4 min
  4. Major Upgrades to Radix's Market Intelligence

    FEB 26

    Major Upgrades to Radix's Market Intelligence

    Major upgrades to Radix’s market intelligence This week, we've integrated millions of new public data points into our Research product, adding tens of thousands of properties to our Radix Analytics platform for a more comprehensive look at shifting dynamics within specific MSAs and submarkets. All data is based on publicly available information, including RealRents. These properties were previously available for individual benchmarking analysis and are now also included in our aggregate trends. With expanded market coverage, your management and investment decisions are now more informed than ever. More enhancements are on the way. This update is a key milestone in our ongoing data evolution. As we continue to enhance our platform, you can anticipate further advancements to our market intelligence in the months to come. We look forward to helping you navigate these evolving trends with our most robust dataset to date. Explore our webpage for more insights and resources: https://bit.ly/Radix_Website

    8 min
  5. Economic Update: A Resilient Start to 2026

    FEB 18

    Economic Update: A Resilient Start to 2026

    The first half of February delivered a wave of favorable economic data, painting a more optimistic picture for the start of the year than many analysts predicted. The combination of cooling costs and a resilient labor market provides a strong foundation for the housing sector as spring approaches. Inflation inched closer to the Fed’s target of 2.0%. The Consumer Price Index (CPI) rose 2.4% year-over-year in January, the slowest pace since last May. Significant relief came from lower gasoline prices, a high-visibility win for consumer sentiment that provides immediate breathing room for household budgets. The Core CPI, which excludes volatile food and energy prices, increased 2.5%, marking the lowest growth rate for this metric since April 2021. This suggests that the underlying inflationary pressures that have plagued the economy for years are finally stabilizing. January’s labor market report outperformed expectations. Approximately 130,000 jobs were added in the month, and the 4.3% unemployment rate indicates a sturdy labor market. Paired with robust wage growth of 3.7%, renters and buyers alike are entering the year with stronger purchasing power than anticipated. The strength of job creation has been overstated in recent years, but if last week’s report is accurate, it bodes well for an economy that had a lot of question marks heading into 2026. Explore our webpage for more insights and resources: https://bit.ly/Radix_Website

    3 min
  6. Job Growth Surprisingly Strong to Start 2026

    FEB 11

    Job Growth Surprisingly Strong to Start 2026

    The labor market kicked off 2026 with a surprising 130,000 new jobs in January based on today’s report from the Bureau of Labor Statistics. It was more than double economists’ expectations. From an industry perspective, health care and social assistance (+124,000) and construction (+33,000) were major winners for monthly job gains. The federal government (-34,000) and financial activities (-22,000) lost jobs. While the overall number is great news to start 2026, many will wait and see if these figures hold given the number of downward adjustments in recent years. Based on the annual benchmark revisions released today, the monthly job gains for 2025 averaged just 15,000 per month, and practically every month was adjusted lower than previously reported. That said, if these numbers are accurate, they bold well for demand for the multifamily industry this year. Strong job creation would help absorb excess supply totals from recent years. If hourly earnings remain close to January's annual growth of 3.7%, rent growth should bounce back as occupancy rates stabilize.  Explore our webpage for more insights and resources: https://bit.ly/Radix_Website

    3 min
  7. Carolinas, Idaho, and Texas Lead in Population Growth

    FEB 4

    Carolinas, Idaho, and Texas Lead in Population Growth

    The U.S. Census Bureau’s first look at 2025 population data revealed a significant cooling trend. As of July 1, 2025, the U.S. population grew by 1.8 million from the prior year, or 0.5%. It was a sharp deceleration compared to the prior year’s 1.0% gain of 3.2 million people. Analysts attributed much of the change to a substantial decline in international immigration. The slowdown in overall population growth was particularly relevant for the multifamily sector because it influenced demand for housing. From a regional perspective, the Midwest has been a standout for multifamily operations performance in recent years. Low supply has helped, but Census data suggested strong demand as well. All states in the region recorded a population gain in 2025, aided by slightly positive domestic migration which had been negative for years. At the state level, South Carolina led the nation with 1.5% population growth, but it was down from 1.8% the prior year. Idaho and North Carolina followed closely at 1.4% and 1.3%, respectively. Texas led the U.S. in total population gain with more than 391,000 residents. While lower than recent years, it was essentially twice as many as Florida which had the second highest amount of 197,000. Only five states saw a population contraction: California, Hawaii, New Mexico, Vermont, and West Virginia. Explore our webpage for more insights and resources: https://bit.ly/Radix_Website

    3 min
  8. Fern Impacts Q1 Economic Growth

    JAN 27

    Fern Impacts Q1 Economic Growth

    Winter Storm Fern wreaked havoc on the U.S. this past week, with early estimates predicting more than $100 billion in total economic losses. According to MarketWatch, analysts from Morgan Stanley believe the storm’s disruption could shave 0.5 to 1.5 percentage points from Q1 GDP, potentially obscuring the true strength of the economy. Some people reading this planned to attend a major multifamily conference in Las Vegas this week, but they were significantly delayed or completely unable to make the trip due to the weather impact. I was part of the latter. Based on data from FlightAware, there were approximately 24,000 cancellations for flights within, into, or out of the United States from Saturday through midday Tuesday. To put that in perspective, cancellations averaged 350 per day last year. The timing of the storm also coincides with earnings season for publicly traded companies. On upcoming investor calls, expect some of the multifamily REITs to discuss any disruptions to performance and damage to properties, as well as how they are mitigating them. Broadly, there will likely be a temporary slowdown to in-person property traffic in locations where Fern hit the hardest. That could show up to a degree in Radix data starting this week and next. Explore our webpage for more insights and resources: https://bit.ly/Radix_Website

    3 min
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Ratings & Reviews

5
out of 5
15 Ratings

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Covering the latest trends in multifamily housing, demographics, and economic insights, built off real time analytics at the property, submarket and market level.

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