The latest Yardi Matrix is reporting that the average U.S. apartment rent fell in September to $1,219 – the first time since November 2015 that there has been a decrease. While only dropping $1, the big picture is that it happened during a period of 4.7% year-over-year growth. According to the report multifamily fundamentals remain strong and occupancy has remained unchanged since May, with demand for multifamily housing remaining high.
“Rent growth has significantly outpaced economic expansion and wage growth in the last three years, and the recent deceleration aligns with historical rent growth rates.”
Click here to read the full report on Yardimatrix.com.
