Apartment Rents Jump in January via Commercial Property Executive

After four months of what looked like slowing, multifamily rents are back and bigger than ever. The average national rental rate rose $5 this month to a record $1,170, displacing September and October’s peak of $1,166 last year. According to Yardi Matrix’s monthly report for January, year-over-year rent growth was just as robust, with a 6.4 percent increase over last year. Though the report states that Yardi Matrix is forecasting more moderate rent gains in 2016, growth is clearly surpassing the long-term average of 2.8 percent.

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