Multifamily Rents Still Rising Amid Signs of Moderation, Says Yardi

National rental rate reaches another all-time high in March.
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Click on image to enlarge.

Santa Barbara, Calif.The average national apartment rental rate rose $6 in March to another all-time high of $1,181, according to Matrix Monthly, a market report compiled by Yardi® Matrix.

To see the full March report, click here.

Several metros made repeat appearances atop the list of strongest performers, including Portland, Ore.; San Francisco; Sacramento, Calif.; Denver; and Seattle.

“Despite the good performance, rent growth continues to moderate,” the report says, noting a decline of 70 basis points from January. “It is too early to say whether the market is turning or if today’s concerns are a product of global volatility and will prove to be temporary.”

Yardi Matrix is a business development tool for brokers, sponsors, banks and equity sources underwriting investments in the multifamily sector. Email matrix@yardi.com, call 480-663-1149 or visit www.yardimatrix.com to learn more.