According to the latest Yardi Matrix, multifamily rents posted solid gains in March to an average of $1,312, which is 2.7% higher than one year ago. The Matrix Monthly is comprised of data gleaned from 121 markets covered by Yardi Matrix.
While it is no doubt good to see rents go up again, March’s numbers don’t change our basic view of the market. We have forecast rents to moderate from the unsustainably high levels they reached at times in 2015 and 2016, but at the same time supply/demand fundamentals are healthy in most markets, and rents should rise in the 3% range for the year.
Click here to read the full report at Yardi.
