With an all new format to start the year; the latest Yardi Matrix says U.S. multifamily rents rose $1 in January to $1,362. Looking at it on a year-over-year basis, rents increased 2.8% through January and were up 20 basis points from December.
After two years of consistent, above-trend increases, rent growth has remained within a fairly narrow band over the past year, with a high of 3.0% and a low of 2.4%. Rent growth tends to be flat through the winter, so the next few months should provide a clue as to the type of growth we will see in 2018. We expect multifamily rent growth to remain in the 2.5% range.