According to the latest Yardi Matrix the average national apartment rental rate rose $10 in June, reaching another all-time high of $1,213. Rents rose 0.9% on a month-over-month basis with the nationwide occupancy rate at 96.1% in June. For the 2nd quarter, rents were up 2.7% (5.6% year-over-year) while rent growth fell 30 basis points in June (year-over-year) and was down 110 basis points from the recent high in October 2015.
“The big question of the day has to do with Brexit, or Britain’s vote to exit the European Union, which is roiling global financial markets. We foresee little immediate impact on the U.S. multifamily market, largely because the U.S. is a relatively small trading partner, but the real danger is the potential that the process of splitting the European Union could create upheaval in global financial markets.”
Click here to download the latest report at YardiMatrix.com.
