Rent growth deceleration clearly isn’t as imminent as once thought, as Yardi Matrix’s monthly rent survey reported another all-time high in rent growth. According to the report, U.S. rents increased $10 to an average of $1,204, an average 0.9 percent increase during the month and 6 percent more than this time last year. On a year-over-year basis, metros like Seattle, Sacramento and Portland came out on top with increases of more than 11 percent. Phoenix and Atlanta also displayed strong growth with both falling in the mid-8-percent range. San Francisco, Denver and Houston continue to decelerate.
Read more...May the Rent Growth Be with You