2018 Rent Growth

A year-over-year comparison of all asset classes across 30 major metros, provided monthly by Yardi Matrix.

Year-over-year, all asset classes

National average includes 121 markets tracked by Matrix, not just the 30 metros listed above.
Source: Yardi Matrix March 2018 Monthly Report

March multifamily rents had its best performance since last summer, with average U.S. rents increasing by $4 to $1,371. Despite this, growth dropped 10 basis points year-over-year to 2.5 percent, decelerating from its peak of 5.4 percent growth in early 2016. Major concerns for the industry included peaking supply, declining occupancy rates and affordability, which had led many to speculate if the flattening growth since last summer was a natural pattern or if rents would remain flat for an extended period of time. Since last July, rents had not moved more than $1 in each direction, as shown by February’s rent performance in last month’s Yardi Matrix survey. Rent 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. Rents increased by $5 and were up 0.4 percent in the first quarter, marking the smallest increase since 2011.

—Posted on April 19, 2018


Year-over-year, all asset classes

National average includes 121 markets tracked by Matrix, not just the 30 metros listed above. Source: Yardi Matrix January 2018 Monthly Report
National average includes 121 markets tracked by Matrix, not just the 29 metros listed above.
Source: Yardi Matrix February 2018 Monthly Report

U.S. multifamily rents barely changed within the last 30 days, according to Yardi Matrix’s monthly survey of 121 markets. Rents rose $1 to $1,364, an increase of 2.7 percent year-over-year through February. Down 10 basis points from the previous month, February’s growth was the weakest seasonal gain since the recovery started. According to the report, it’s been seven years since rents had increased any less than the current amount. In terms of metro performance, Orlando has risen to the top position with a 7 percent year-over-year growth, outranking Sacramento’s rent growth of 6.8 percent, which places it second for the first time since June 2016. According to the report, Orlando has continued to benefit from strong job growth, increased migration in the wake of Hurricane Maria and a warm climate that doesn’t seem to suffer from seasonal rental declines.

—Posted on Mar. 20, 2018


Year-over-year, all asset classes

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National average includes 121 markets tracked by Matrix, not just the 30 metros listed above.
Source: Yardi Matrix January 2018 Monthly Report

On a year-over-year basis, multifamily rents have gone up 2.8 percent through January, which represents an increase of 20 basis points from last month. Despite this, the average rent only went up by $1 to $1,362, the same level it reached in July 2017. This could be due to the fact that rent growth tends to be flat throughout the winter months, but according to Yardi Matrix’s monthly report, rent growth is forecasted to remain in the range of 2.5 percent.

—Posted on Feb. 21, 2018


Year-over-year, all asset classes

National average includes 121 markets tracked by Matrix, not just the 30 metros listed above. Source: Yardi Matrix December 2017 Monthly Report
National average includes 121 markets tracked by Matrix, not just the 30 metros listed above.
Source: Yardi Matrix December 2017 Monthly Report

Showing the smallest annual increase since 2010, U.S. multifamily rents did not change in December, according to Yardi Matrix’s monthly survey of 121 markets. Rents remain at $1,359, a $4 drop from the highest rate achieved in September of $1,363. Over the past seven year, rents have grown by a minimum 3.3 percent annually, hitting its highest 5.4 percent in 2015, but ended 2017 with a 2.5 percent increase.

—Posted on Jan. 30, 2018