Annual effective rent growth in the national apartment market measured 5.0% in February 2015, the highest it has been in 44 months, according to Axiometrics, the leader in apartment research and analysis.
February was the second time in three months the metric has reached that mark -- when rounded to one decimal place. Extending the figure a second decimal place, February's rate of 5.05% was 8 basis points (bps) higher than December 2014's 4.97%.
The last time annual effective rent growth exceeded February's rate was in July 2011, when it increased 5.3%.
Read more...Apartment Market Strengthens in February According to Latest Axiometrics' Market Survey | MultifamilyBiz.com
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