The national average multifamily rent remained at $1,420 in January 2019 while the year-over-year (YOY) rent-growth rate rose 10 basis points (bps), to 3.3%, according to the Matrix Monthly report by Yardi Matrix.
The annual rent-growth rate has remained above 3% for the past six months. While U.S. rents have remained flat since August, Yardi notes that this lack of growth is a normal winter seasonal pattern. Overall, Yardi notes that multifamily continues to run strong, especially compared with other real estate and nonreal estate investment sectors as the cycle continues.
Read more...Yardi: National Rent Remains Flat, YOY Growth Rises to 3.3% via Multifamily Executive
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