June was an inflection point for US multifamily rent growth, according to new figures by Yardi-Matrix. Following several months this year of slow rent growth, rents rose robustly in the second quarter by $12 to reach $1,465, the company says. Average rents increased by 2% in the second quarter of 2019, and they are up 2.6% so far this year. Year-over-year growth increased to 3.3%, up by 40 basis points from May.
Read more...Multifamily Rent Growth Gets Serious via GlobeSt