Apt. Rents Continue Their Climb
ByNetwork with the nation’s top CRE dealmakers at RealShare APARTMENTS in Los Angeles on Oct 21-22,RealShare INDUSTRIAL in Atlanta on Nov 3-4, RealShare NEW LEASE WEST in Los Angeles on Nov 11-12 andRealShare HEALTHCARE REAL ESTATE in Scottsdale, AZ on Dec 2-3.
Portland, OR continues to be the leading market in the US for apartment rent growth.
SANTA BARBARA, CA—Multifamily rents reached a new record high of $1,167 in September, while also reaching the highest year-over-year growth of the post-recession cycle, Yardi said Wednesday. The month’s Y-O-Y increase of 6.8% was 30 basis points higher than the annual growth for July and August, according to the latest edition of Matrix Monthly, a survey of the 108 markets covered by Yardi Matrix. The average growth rate over the past eight years was 2.8%.
“Buoyant multifamily rent growth is hardly a surprise, but what is improbable about this year is the consistency of the increases,” according to Yardi’s report. “Rents have risen every month in 2015.”…
