The average U.S. multifamily rent rose by $3 in April, reaching $1,314, according to Yardi Matrix’s monthly survey of apartment markets. At the same time, the national rent-growth rate has slowed to below long-term growth trends. Rents rose by 2.0% in April on a year-over-year (YOY) basis, down 50 basis points (bps) from March. This represents a significant drop from the 5.5% rent growth seen a year ago.
Read more...Yardi: Rent Growth Drops to 2.0% YOY in April | Multifamily Executive Magazine
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