According to the latest Yardi Matrix, U.S. multifamily rents dropped $1 in September to $1,412, however on a year-over-year basis rents were up 3%. Yardi says that the occupancy rate of stabilized properties has increased in recent months, which they say is a sign that demand remains solid in the face of a heavy development pipeline.
“Long-term demand for rentals is likely to remain high for a variety of demographic and social reasons. The renter-age population is growing, the economy is strong and there is demand from retirees downsizing from single-family houses.”
Click here to read the full report on Yardimatrix.com.
