According to the latest Yardi Matrix, U.S. multifamily rents rose $4 to $1,377 in April to a level, which they point out, is the market’s best performance since last spring. Year over year, rents are up 2.4% through April and is within the 2.5% growth range that the market has averaged since early ’17.
“The big picture is that even though the occupancy rate is dropping slowly closer to the historical average, the market is in a healthy position for the long term. Demand is expected to remain high, while overall housing stock is growing at roughly the same number as new households.”
