Matrix Monthly Reports Steady Rent Growth, Solid Fundamentals
- Aug 31, 2015
Santa Barbara, Calif. – U.S. apartment rent growth remained strong in August 2015, according to the latest edition of Matrix Monthly, a report on U.S. multifamily market trends from Yardi®. Nationwide, rents rose by $7 to a record high of $1,162, matching the 6.5 percent year-over-year increase in July.
While the report sounds a cautionary note in the wake of recent volatility in financial markets, nothing in the data collected by the Yardi® Matrix business unit (formerly Pierce-Eislen) indicates major trouble for multifamily fundamentals. “The demographic and demand trends that have produced historically low apartment vacancy rates will not be easily turned around,” the report said.
Matrix Monthly is a monthly survey of apartment owners in the 107 U.S. markets covered by Yardi Matrix. Brokers, sponsors, banks and equity sources that underwrite multifamily investment transactions use the report as a business development tool.