According to the latest Yardi Matrix Multifamily Report, the average U.S. multifamily rent was $1,709 in April. Yardi says year-over-year growth again continued its downward slide, and is now 3.2% nationally, down 80 basis points from March. yardi says solid demand has kept multifamily rents rising in 2023, but at a slower rate than previous years.
“Demand is boosted by the tight job market and strong consumer balance sheets, although the question is how much longer those conditions will persist.”
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