James Noel

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    The Inland Empire multifamily market continues to grow its inventory at a slow burn, further inflating rent rates and property values. One effect of this dynamic is its growing price per unit, which currently averages $156,020 across the metro, roughly $9,000 above the national average.

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    The market’s strength has attracted a number of out-of-state investors such as TIAA, FPA Multifamily and Mapletree US Management that paid significant prices for top communities in the area.

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    The properties, situated in Naperville and Lincolnshire, total 1,071 units and include independent living, assisted living and skilled nursing components.

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