TMCnet News
Multifamily Rents Keep Rising in AprilSome observers expected rent growth to moderate in 2016 after two years of above-trend increases. That hasn't happened yet. The average national apartment rental rate rose $13 in April to $1,194, the fourth consecutive all-time high, according to Matrix Monthly, a market report compiled by Yardi® Matrix. To see the full April report, click here. The top five metros for rent growth in April were Sacramento, Calif., Seattle, Portland, Ore., Las Vegas and Boston. actors supporting the steady rent growth include traditional spring rent growth, high occupancies in most metros, a growing number of millennials and older Americans renting, and strong jobs growth. Yardi Matrix is a business development tool for brokers, sponsors, banks and equity sources underwriting investments in the multifamily sector. Email [email protected], call 480-663-1149 or visit www.yardimatrix.com to learn more.
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