The national apartment market's effective rent growth rate of 5.1% in August represented the seventh straight month in which the metric was 5.0% or higher -- the longest such streak since Axiometrics, the leader in apartment and student housing market research, began monthly reporting of annual metrics in April 2009.
August's rate, though an 8-basis-point decrease from July's figure, was 104 basis points (bps) higher than the 4.1% of August 2014.
In only five months between April 2009 and February 2015 had the market achieved 5% annual rent growth, Axiometrics' apartment market research shows.
Read more...Rent-Growth and Occupancy Rate Hits Another Record High According to Axiometrics Market Report | MultifamilyBiz.com
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