The April 2015 edition of Matrix Monthly, a report on U.S. apartment market trends from Yardi, documents a 4.3 percent year-over-year increase in average rents across the country. The average multifamily rent of $1,105 in April represented a one-month increase of 0.7 percent. The all-time high of $1,108 was recorded in February 2015. Strong rent escalation in San Francisco, Denver, Seattle and Portland, Ore., accounted for much of the average rent increase in April. Demand for higher-end product also contributed to this trend.
Matrix Monthly is a monthly survey of apartment owners in the 84 U.S. markets covered by Yardi’s Pierce-Eislen business unit. Brokers, sponsors, banks and equity sources that underwrite multifamily investment transactions use the report as a business development tool.