According to the latest Yardi Matrix the average national apartment rental rate rose $6 in March, reaching another time high of $1,181. Rents rose 0.5% month-over-month in February, and were up 1.5% for the first quarter.
“Despite the good performance, rent growth continues to moderate. On a year-over-year basis, national rents were up by 5.7% in March, but that was down 20 basis points from February and 70 basis points from January. The bottom line is that although few (if any) property owners would be unhappy with 5.7% annual rent increases, growth was even better in the first quarter a year ago.”
