Annual effective rent growth for the U.S. apartment market was 5.0% in March 2015, the second straight month in which the benchmark apartment metric was at 5% or above. The last two-month streak of 5% or higher was June-July 2011, according to Axiometrics, the leader in apartment market research and analysis.
The national annual rent growth rate was a slight decrease from February's 5.1%, yet was the highest March figure since 2011, when the rate was also 5.0%. March's effective rent growth metric was up from the 3.2% of March 2014.
The average U.S. renter paid $1,187 monthly in March, $57 more than the $1,130 average nationwide rent in March 2014.
Read more...Apartment Rent Growth in Strongest Two-Month Stretch Since 2011 According to Axiometrics Survey | MultifamilyBiz.com:
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