Strong fundamentals indicate potential for continued multifamily growth in 2018
SANTA BARBARA, Calif., Jan. 9, 2018 – The average multifamily rent in the U.S. stood at $1,359 in December. The figure did not change from November but represented a year-over-year increase of 2.5%, according to a survey of 121 markets by Yardi® Matrix.
The report states that even though the gain for 2017 was the smallest since 2010, strong demand, the economy’s solid footing and a robust job market suggest that “growth will continue at roughly the same rate nationally” in 2018.
Year-over-year rent growth leaders in December were Sacramento, Calif., Las Vegas, Orlando, Fla., California’s Inland Empire and the Minneapolis-St. Paul metro in Minnesota.
View the full December Yardi Matrix report for additional detail and insight into 121 major U.S. real estate markets.
Yardi Matrix is a business development and asset management tool for investment professionals, equity investors, lenders, and property managers who underwrite and manage investments in commercial real estate. Yardi Matrix covers multifamily, industrial, office and self storage property types. Email [email protected], call 480-663-1149 or visit yardimatrix.com to learn more.
About Yardi
Yardi develops and supports industry-leading investment and property management software for all types and sizes of real estate companies. Established in 1984, Yardi is based in Santa Barbara, Calif., and serves clients worldwide. For more information on how Yardi is Energized for Tomorrow, visit yardi.com.