Multifamily continues to drive investment as capital shifts with demographic and migration patterns
Multifamily remains a top sector for investment as office and retail markets continue to undergo significant disruption in the wake of the COVID-19 pandemic. The rise of remote work has led to a significant shift in households as many renters relocate out of high-cost coastal cities and into lower-cost inland markets and counties. The urban submarkets of the Bay Area and the Pacific Northwest continue to see sluggish recoveries in occupancy and rent, while suburban markets in the North Bay, East Bay, Sacramento, Stockton/Modesto, Portland, Seattle, and Reno are recording strong occupancy gains and rising rental rates. This report will compare 10 separate markets across the Northwest region of the United States, providing a comprehensive overview of multifamily trends related to market performance and sales activity through the first half of 2021.