The national average U.S. multifamily rent rose by $4, to $1,377, in April 2018. This marks the second straight month of $4 growth and a $10 increase in the national average over the past two months, following a period of relatively flat rent growth from the summer of 2017 through February 2018.
On a year-over-year (YOY) basis, rents rose 2.4% through April, down 20 basis points (bps) from March but close to the market’s 2.5% average growth range. The "Renter by Necessity" (RBN) apartment market’s rents rose 3.0% YOY at the national level, maintaining a 140 bps rent-growth difference from the "Lifestyle" renter market's rent growth (1.6% YOY).
Read more...Yardi: Multifamily Rent Growth Stays Strong in April | Multifamily Executive Magazine