March’s $6 gain marked the first positive change in the average U.S. monthly rent in five months and the most significant gain since last June, according to Yardi Matrix’s Matrix Monthly rent survey report. The average U.S. monthly rent is now $1,312, according to the firm's monthly survey of 121 metro markets.
On a year-over-year (YOY) basis, rents rose 2.7% in March, down 10 basis points (bps) from February and 270 bps from one year ago, when the YOY rent-growth rate was twice as high, at 5.4%.
Read more...Yardi: Rent Gains Return in March, but Growth Continues to Moderate | Multifamily Executive Magazine
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