Rent growth occurred across most markets during the third quarter, averaging 4.7 percent on a year-over-year basis, according to Yardi Matrix. Growth continues to slow, as evidenced by a lone city experiencing double-digit rent growth, Sacramento, compared to four last year at this time. San Francisco, Houston, Denver and New York comprise the handful of markets with rent growth lower than the long-term national average of 2.2 percent, and even negative in the higher-end segment. Reports of concessions coming back in some of these cities suggest the scales may soon tip towards tenant-favorable markets.
Read more...Apartment Market Pulse: Rents, Values and Occupanices - All Up | National Apartment Association