Annual quarterly effective rent growth for US apartments reached 5.0% for the first time in four years, says Axiometrics. As a further indicator of multifamily’s ongoing strength, all of the top 50 markets tracked by the Dallas-based research and analysis firm showed positive quarterly effective rent growth in the second quarter, compared to 36 markets in Q1 of this year and 14 markets in Q4 of 2014.
“We’ve been seeing steady 5% rent growth in our monthly reporting, so the quarterly number is right on track,” says Stephanie McCleskey, VP of research at Axiometrics. She adds that Q2 is traditionally strong for apartment rent growth, “as school has ended and weather is warmer.” The quarter-over-quarter rent growth of 2.7% was equal to the figure Axiometrics reported the year prior, and a big step up from the 0.9% growth recorded in Q1.
Read more...Apt. Rent Growth Hits Four-Year High - Daily News Article - GlobeSt.com
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