According to the latest Yardi Matrix, U.S. multifamily rents held flat in December, coming in again at $1,419, while year-over-year growth was 3.2%. In addition they point out that while rent growth has been flat since the summer they also believe the fundamentals will remain vigorous in 2019.
“The multifamily sector just wrapped up its eighth straight year of robust performance. Since January 2011, rents nationally have increased by 31%, while annual rent growth has been at least 2.9% in every year save 2017. Rent growth has topped 3% in six of the last eight years. That’s impressive performance, but it also breeds worry that the cycle has extended almost as far as it can. Real estate rarely has performed so well for so long. That said, there are reasons to believe multifamily fundamentals will remain vigorous in 2019 and beyond.”