Apartment Rents Soar to New Heights, Says Yardi Matrix
- Jul 30, 2015
Santa Barbara, Calif.—U.S. apartment rents rose a robust 6.5 percent year-over-year in July to a record $1,155, according to the July 2015 edition of Matrix Monthly, a report on U.S. multifamily market trends from Yardi®.
Technology-fueled markets in the Western U.S. continued to spearhead growth, led by Portland, Ore., Denver and San Francisco. Growth is strong across the board in all 30 of the markets featured in the Matrix Monthly, with only five metros experiencing less than a 4 percent increase year-over-year.
Matrix Monthly is a monthly survey of apartment owners in the 101 U.S. markets covered by the Yardi® Matrix business unit (formerly Pierce-Eislen). Brokers, sponsors, banks and equity sources that underwrite multifamily investment transactions use the report as a business development tool.