Yardi Says Rent Growth is Likely to Decelerate
According to the latest Yardi Matrix Multifamily Report, the average U.S. multifamily rents in March increased $ 14 to an all-time high of $ 1,642 (up 14.8% year-over-year). Yardi says while demand is expected to remain healthy, rent growth is likely to decelerate as concerns grow about the economy.
“The big picture that emerges from March multifamily data is that the market remains healthy, though signs point to the inevitable deceleration in some markets.”
[HOWEVER]
“Rent growth continues to be a national phenomenon, led by the migration to the Southeast and Southwest. The top five metros—Miami, Orlando, Tampa, Las Vegas and Phoenix—all sported asking rent increases of 23% or more.”
Click here to read the full report at Yardimatrix.com.
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