According to the latest Yardi Matrix Multifamily Report, the average U.S. multifamily rent was $1,729 in July (up $2). Yardi says the multifamily market exhibited strength in July, as the economy continues to outperform expectations. They say demand remains propped up by the healthy job market, as the U.S. economy added 1.7 million jobs in the first half of 2023. Indeed…
“While we still expect the economy to cool in coming quarters, the fact that second quarter job and GDP numbers were strong while inflation recedes has confounded the economic consensus. As long as that continues, consumer balance sheets will stay strong and apartment demand is likely to be firm..”
Click here to read the full report at Yardi.
