Although multifamily rents nationwide increased in May for the third month in a row, Yardi Matrix is continuing to chart a deceleration in the growth rate. Average US monthly rents rose $4 to $1,316, according to Yardi Matrix’s monthly survey of 121 markets.
On a year-over-year basis, rents were up 1.5% nationwide in May. The Y-O-Y growth rate was down 40 basis points from April, 90 bps from March and well below the 5.3% growth rate of a year ago.
Read more...Apt. Rents Maintain 13-Month Streak of Slowing Growth | GlobeSt.com
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