May 15, 2019
Yardi Matrix’s April 2019 Multifamily National Report indicated that the multifamily sector remains consistent when it comes to rent growth, absorption and occupancy. Overall, multifamily rents increased 3%, year over year, while year-to-date numbers were up 0.8%.
The metrics led Yardi Matrix analysts to point out, however, that the growth rate has declined from the same period in recent years. “With the prime rent growth season just starting,” the analysts noted, “it remains to be seen whether this year’s gains will be stellar, or merely average . . .”
Overall, most markets are regressing to the national mean, with 22 of Yardi Matrix’s top 30 markets reporting rent growth between 2%-4%. Las Vegas and Phoenix held the top spots in rent growth, at 7.3%.
Photo: Serghei Starus, Shutterstock
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