Multifamily

August 2018 Rents Hit Record High

According to a Yardi Matrix survey of 127 markets, this spike represents a 3.1 percent year-over-year increase, up 10 basis points from July.

Multifamily Rents Achieve New Heights in July

Year-over-year, rents have risen by 2.8 percent, reaching an all-time high of $1,409. Among the top 30 metros, Orlando once again came out ahead with the highest rental increase, at 6.9 percent.

Strong First Half for the Multifamily Market

Despite consistent supply growth and the lack of affordability in major metros, rents increased by $29 in quarter two, up 2.1 percent for the quarter and 2.6 percent for the first half. 

Rents Remain Strong Despite Growth Decrease

The year-over-year increase hit its lowest point over the last seven years, falling by 2 percent and down 70 basis points, according to Yardi Matrix’s latest survey of 121 markets.

Spring Rent Growth Blooms

Although down 20 basis points from March, rents have once again risen $4 in April, with a year-over-year increase of 2.4 percent.

March 2018 Shows Best Rent Growth Performance

Despite the average U.S. rental increase of $4, growth in the first quarter was weak compared to previous years, with gains averaging 1 percent in the first quarter of each of the last three years.

February Rent Growth Hits Record Low

Although the year-over-year rate of 2.7 percent was close to the long-term average, last month’s growth was the weakest seasonal gain in the past seven years.

Multifamily Rents to Remain Steady

Although growth tends to be flat throughout the winter months, U.S. average rent is up by 20 basis points from December and is forecast to hover around 2.5 percent.

National Multifamily Outlook for 2018

Rents are forecasted to increase by 2 percent nationally over the next year, but growth will be moderate based on the increases in supply and the lack of affordable housing in high-cost metros.

2018 Rent Growth Led by Strong Demand

Although rents were down 0.3 percent in the fourth quarter, December’s year-over-year increase was up 20 basis points compared to November.