Yardi: Large Markets Pulling Down National Rent Average
According to the latest Yardi Matrix Multifamily Report, the average U.S. rent in August was $ 1,463, up $ 1 from July with year-over-year rent growth remaining at -0.3% (same as July). However, they point our that larger markets are a drag on the rest:
“On a year-over-year basis, national rents declined by 0.3%. But that is not to say that all markets are performing poorly. Out of our 132 Matrix markets, 108 performed better than the national average in August, leading to the conclusion that the larger markets, with significant rent declines, are pulling down the national average.”
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