According to the latest Yardi Matrix Multifamily Report, average multifamily advertised rents rent rose $4 to $1,771, with year-over-year growth unchanged at 0.2%. Nationally, over the last 5 months, advertised rents have increased by $22, or 1.3%. Yardi says this a modest improvement from the same period last year but still indicative of limited pricing power.
The recent strength suggests demand remains healthy despite elevated supply, though the record wave of apartment deliveries continues to temper rent growth. While completions are slowing, elevated concessions indicate many owners remain focused on occupancy over rent growth..
Click here to read the full report at Yardi.
