According to the latest Yardi Matrix, U.S. multifamily rents rose $4 in March to $1,371. Year-over-year, rent growth was 2.5% higher – the first increase since summer 2017. Interestingly, Yardi reports rents had not moved more than $1 in either direction since July.
“March’s performance is decidedly mixed. It is encouraging to see rents growing at a time when the overall trend is toward deceleration. Rents had not moved more than $1 in either direction since last July. On the other hand, first-quarter rent gains were weaker than previous years…”