{"id":35627,"date":"2023-04-06T05:10:00","date_gmt":"2023-04-06T12:10:00","guid":{"rendered":"https:\/\/www.yardi.com\/blog\/?p=35627"},"modified":"2026-02-22T15:26:49","modified_gmt":"2026-02-22T23:26:49","slug":"rents-rise","status":"publish","type":"post","link":"https:\/\/www.yardi.com\/blog\/rents-rise\/","title":{"rendered":"Rents Rise"},"content":{"rendered":"\n

Multifamily asking rents rose slightly last month as demand stayed strong despite economic challenges, according to the new National Multifamily Report<\/a> from Yardi Matrix.<\/p>\n\n\n\n

The average U.S. asking rent rose $3 in March to $1,706. Year-over-year growth fell to four percent nationally, 90 basis points less than February and the lowest level since rents started an unprecedented climb in April 2021.<\/p>\n\n\n\n

Single-family rental rates increased in March by $5 to $2,079, while the year-over-year increase fell by 80 basis points to 2.8 percent.<\/p>\n\n\n\n

\u201cThe first quarter produced no gains for multifamily rents for the first time in a decade, but the results come as somewhat of a relief,\u201d say Matrix experts. \u201cMultifamily demand held up well despite the attention given to the Federal Reserve-induced economic slowdown, bank failures and the deceleration from the outsize rent gains of the last two years. Rents and occupancy are stable as the market heads into the growth season.\u201d<\/p>\n\n\n\n

Rents and the national occupancy rate were unchanged during the first quarter of 2023, and 21 of the top 30 Matrix metros recorded rent gains in March.<\/p>\n\n\n\n

Gain more insights by downloading March\u2019s Multifamily Report<\/a>.<\/p>\n\n\n\n

Yardi Matrix offers the industry\u2019s most comprehensive market intelligence tool for investment professionals, equity investors, lenders and property managers who underwrite and manage investments in commercial real estate. Yardi Matrix covers multifamily, student housing, industrial, office and self storage property types. Email matrix@yardi.com<\/a>, call (480) 663-1149 or visit yardimatrix.com<\/a> to learn more.<\/p>\n","protected":false},"excerpt":{"rendered":"

Multifamily asking rents rose slightly last month as demand stayed strong despite economic challenges, according to the new National Multifamily Report from Yardi Matrix. The average U.S. asking rent rose $3 in March to $1,706. Year-over-year growth fell to four percent nationally, 90 basis points less than February and the lowest level since rents started […]<\/p>\n","protected":false},"author":413,"featured_media":35647,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"_s2mail":"yes","_jetpack_memberships_contains_paid_content":false,"footnotes":""},"categories":[2791],"tags":[1169],"class_list":["post-35627","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-matrix","tag-yardi-matrix"],"acf":[],"yoast_head":"\nYardi Blog<\/title>\n<meta name=\"description\" content=\"Multifamily asking rents rose slightly last month as demand stayed strong despite economic challenges, according to the new National Multifamily Report\" \/>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/www.yardi.com\/blog\/rents-rise\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"Rents Rise\" \/>\n<meta property=\"og:description\" content=\"Multifamily asking rents rose slightly last month as demand stayed strong despite economic challenges, according to the new National Multifamily Report\" \/>\n<meta property=\"og:url\" content=\"https:\/\/www.yardi.com\/blog\/rents-rise\/\" \/>\n<meta property=\"og:site_name\" content=\"Yardi Blog\" \/>\n<meta property=\"article:published_time\" content=\"2023-04-06T12:10:00+00:00\" \/>\n<meta property=\"article:modified_time\" content=\"2026-02-22T23:26:49+00:00\" \/>\n<meta property=\"og:image\" content=\"https:\/\/www.yardi.com\/blog\/wp-content\/uploads\/sites\/15\/2023\/04\/MF-March23.jpg\" \/>\n\t<meta property=\"og:image:width\" content=\"1280\" \/>\n\t<meta property=\"og:image:height\" content=\"880\" \/>\n\t<meta property=\"og:image:type\" content=\"image\/jpeg\" \/>\n<meta name=\"author\" content=\"Leah Etling\" \/>\n<meta name=\"twitter:card\" content=\"summary_large_image\" \/>\n<meta name=\"twitter:label1\" content=\"Written by\" \/>\n\t<meta name=\"twitter:data1\" content=\"Leah Etling\" \/>\n\t<meta name=\"twitter:label2\" content=\"Est. reading time\" \/>\n\t<meta name=\"twitter:data2\" content=\"2 minutes\" \/>\n<script type=\"application\/ld+json\" class=\"yoast-schema-graph\">{\"@context\":\"https:\/\/schema.org\",\"@graph\":[{\"@type\":\"WebPage\",\"@id\":\"https:\/\/www.yardi.com\/blog\/rents-rise\/\",\"url\":\"https:\/\/www.yardi.com\/blog\/rents-rise\/\",\"name\":\"Rents Rise - Yardi Corporate Blog\",\"isPartOf\":{\"@id\":\"https:\/\/www.yardi.com\/blog\/#website\"},\"primaryImageOfPage\":{\"@id\":\"https:\/\/www.yardi.com\/blog\/rents-rise\/#primaryimage\"},\"image\":{\"@id\":\"https:\/\/www.yardi.com\/blog\/rents-rise\/#primaryimage\"},\"thumbnailUrl\":\"https:\/\/www.yardi.com\/blog\/wp-content\/uploads\/sites\/15\/2023\/04\/MF-March23.jpg\",\"datePublished\":\"2023-04-06T12:10:00+00:00\",\"dateModified\":\"2026-02-22T23:26:49+00:00\",\"author\":{\"@id\":\"https:\/\/www.yardi.com\/blog\/#\/schema\/person\/81b16a7aea318dbdaaa0a17b776a0c52\"},\"description\":\"Multifamily asking rents rose slightly last month as demand stayed strong despite economic challenges, according to the new National Multifamily Report\",\"breadcrumb\":{\"@id\":\"https:\/\/www.yardi.com\/blog\/rents-rise\/#breadcrumb\"},\"inLanguage\":\"en-US\",\"potentialAction\":[{\"@type\":\"ReadAction\",\"target\":[\"https:\/\/www.yardi.com\/blog\/rents-rise\/\"]}]},{\"@type\":\"ImageObject\",\"inLanguage\":\"en-US\",\"@id\":\"https:\/\/www.yardi.com\/blog\/rents-rise\/#primaryimage\",\"url\":\"https:\/\/www.yardi.com\/blog\/wp-content\/uploads\/sites\/15\/2023\/04\/MF-March23.jpg\",\"contentUrl\":\"https:\/\/www.yardi.com\/blog\/wp-content\/uploads\/sites\/15\/2023\/04\/MF-March23.jpg\",\"width\":1280,\"height\":880},{\"@type\":\"BreadcrumbList\",\"@id\":\"https:\/\/www.yardi.com\/blog\/rents-rise\/#breadcrumb\",\"itemListElement\":[{\"@type\":\"ListItem\",\"position\":1,\"name\":\"Home\",\"item\":\"https:\/\/www.yardi.com\/blog\/\"},{\"@type\":\"ListItem\",\"position\":2,\"name\":\"Rents Rise\"}]},{\"@type\":\"WebSite\",\"@id\":\"https:\/\/www.yardi.com\/blog\/#website\",\"url\":\"https:\/\/www.yardi.com\/blog\/\",\"name\":\"Yardi Blog\",\"description\":\"\",\"potentialAction\":[{\"@type\":\"SearchAction\",\"target\":{\"@type\":\"EntryPoint\",\"urlTemplate\":\"https:\/\/www.yardi.com\/blog\/?s={search_term_string}\"},\"query-input\":{\"@type\":\"PropertyValueSpecification\",\"valueRequired\":true,\"valueName\":\"search_term_string\"}}],\"inLanguage\":\"en-US\"},{\"@type\":\"Person\",\"@id\":\"https:\/\/www.yardi.com\/blog\/#\/schema\/person\/81b16a7aea318dbdaaa0a17b776a0c52\",\"name\":\"Leah Etling\",\"image\":{\"@type\":\"ImageObject\",\"inLanguage\":\"en-US\",\"@id\":\"https:\/\/www.yardi.com\/blog\/#\/schema\/person\/image\/\",\"url\":\"https:\/\/secure.gravatar.com\/avatar\/9fa1e69f4f920593cfa724d25dc7da5cb96fac8a5a1a39b01b0d456d468ed3af?s=96&d=mm&r=g\",\"contentUrl\":\"https:\/\/secure.gravatar.com\/avatar\/9fa1e69f4f920593cfa724d25dc7da5cb96fac8a5a1a39b01b0d456d468ed3af?s=96&d=mm&r=g\",\"caption\":\"Leah Etling\"},\"description\":\"Leah Etling is the founding editor of the Balance Sheet and a 12-year Yardi employee who also oversees press releases and social media. An award winning journalist, she holds a master's degree from UC Berkeley and is a native of Santa Barbara County, Yardi's home.\",\"url\":\"https:\/\/www.yardi.com\/blog\/author\/leah-etling\/\"}]}<\/script>\n<!-- \/ Yoast SEO Premium plugin. -->","yoast_head_json":{"title":"Yardi Blog","description":"Multifamily asking rents rose slightly last month as demand stayed strong despite economic challenges, according to the new National Multifamily Report","robots":{"index":"index","follow":"follow","max-snippet":"max-snippet:-1","max-image-preview":"max-image-preview:large","max-video-preview":"max-video-preview:-1"},"canonical":"https:\/\/www.yardi.com\/blog\/rents-rise\/","og_locale":"en_US","og_type":"article","og_title":"Rents Rise","og_description":"Multifamily asking rents rose slightly last month as demand stayed strong despite economic challenges, according to the new National Multifamily Report","og_url":"https:\/\/www.yardi.com\/blog\/rents-rise\/","og_site_name":"Yardi Blog","article_published_time":"2023-04-06T12:10:00+00:00","article_modified_time":"2026-02-22T23:26:49+00:00","og_image":[{"width":1280,"height":880,"url":"https:\/\/www.yardi.com\/blog\/wp-content\/uploads\/sites\/15\/2023\/04\/MF-March23.jpg","type":"image\/jpeg"}],"author":"Leah Etling","twitter_card":"summary_large_image","twitter_misc":{"Written by":"Leah Etling","Est. reading time":"2 minutes"},"schema":{"@context":"https:\/\/schema.org","@graph":[{"@type":"WebPage","@id":"https:\/\/www.yardi.com\/blog\/rents-rise\/","url":"https:\/\/www.yardi.com\/blog\/rents-rise\/","name":"Rents Rise - Yardi Corporate Blog","isPartOf":{"@id":"https:\/\/www.yardi.com\/blog\/#website"},"primaryImageOfPage":{"@id":"https:\/\/www.yardi.com\/blog\/rents-rise\/#primaryimage"},"image":{"@id":"https:\/\/www.yardi.com\/blog\/rents-rise\/#primaryimage"},"thumbnailUrl":"https:\/\/www.yardi.com\/blog\/wp-content\/uploads\/sites\/15\/2023\/04\/MF-March23.jpg","datePublished":"2023-04-06T12:10:00+00:00","dateModified":"2026-02-22T23:26:49+00:00","author":{"@id":"https:\/\/www.yardi.com\/blog\/#\/schema\/person\/81b16a7aea318dbdaaa0a17b776a0c52"},"description":"Multifamily asking rents rose slightly last month as demand stayed strong despite economic challenges, according to the new National Multifamily Report","breadcrumb":{"@id":"https:\/\/www.yardi.com\/blog\/rents-rise\/#breadcrumb"},"inLanguage":"en-US","potentialAction":[{"@type":"ReadAction","target":["https:\/\/www.yardi.com\/blog\/rents-rise\/"]}]},{"@type":"ImageObject","inLanguage":"en-US","@id":"https:\/\/www.yardi.com\/blog\/rents-rise\/#primaryimage","url":"https:\/\/www.yardi.com\/blog\/wp-content\/uploads\/sites\/15\/2023\/04\/MF-March23.jpg","contentUrl":"https:\/\/www.yardi.com\/blog\/wp-content\/uploads\/sites\/15\/2023\/04\/MF-March23.jpg","width":1280,"height":880},{"@type":"BreadcrumbList","@id":"https:\/\/www.yardi.com\/blog\/rents-rise\/#breadcrumb","itemListElement":[{"@type":"ListItem","position":1,"name":"Home","item":"https:\/\/www.yardi.com\/blog\/"},{"@type":"ListItem","position":2,"name":"Rents Rise"}]},{"@type":"WebSite","@id":"https:\/\/www.yardi.com\/blog\/#website","url":"https:\/\/www.yardi.com\/blog\/","name":"Yardi Blog","description":"","potentialAction":[{"@type":"SearchAction","target":{"@type":"EntryPoint","urlTemplate":"https:\/\/www.yardi.com\/blog\/?s={search_term_string}"},"query-input":{"@type":"PropertyValueSpecification","valueRequired":true,"valueName":"search_term_string"}}],"inLanguage":"en-US"},{"@type":"Person","@id":"https:\/\/www.yardi.com\/blog\/#\/schema\/person\/81b16a7aea318dbdaaa0a17b776a0c52","name":"Leah Etling","image":{"@type":"ImageObject","inLanguage":"en-US","@id":"https:\/\/www.yardi.com\/blog\/#\/schema\/person\/image\/","url":"https:\/\/secure.gravatar.com\/avatar\/9fa1e69f4f920593cfa724d25dc7da5cb96fac8a5a1a39b01b0d456d468ed3af?s=96&d=mm&r=g","contentUrl":"https:\/\/secure.gravatar.com\/avatar\/9fa1e69f4f920593cfa724d25dc7da5cb96fac8a5a1a39b01b0d456d468ed3af?s=96&d=mm&r=g","caption":"Leah Etling"},"description":"Leah Etling is the founding editor of the Balance Sheet and a 12-year Yardi employee who also oversees press releases and social media. An award winning journalist, she holds a master's degree from UC Berkeley and is a native of Santa Barbara County, Yardi's home.","url":"https:\/\/www.yardi.com\/blog\/author\/leah-etling\/"}]}},"jetpack_featured_media_url":"https:\/\/www.yardi.com\/blog\/wp-content\/uploads\/sites\/15\/2023\/04\/MF-March23.jpg","jetpack_sharing_enabled":true,"_links":{"self":[{"href":"https:\/\/www.yardi.com\/blog\/wp-json\/wp\/v2\/posts\/35627","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/www.yardi.com\/blog\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.yardi.com\/blog\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.yardi.com\/blog\/wp-json\/wp\/v2\/users\/413"}],"replies":[{"embeddable":true,"href":"https:\/\/www.yardi.com\/blog\/wp-json\/wp\/v2\/comments?post=35627"}],"version-history":[{"count":3,"href":"https:\/\/www.yardi.com\/blog\/wp-json\/wp\/v2\/posts\/35627\/revisions"}],"predecessor-version":[{"id":35648,"href":"https:\/\/www.yardi.com\/blog\/wp-json\/wp\/v2\/posts\/35627\/revisions\/35648"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/www.yardi.com\/blog\/wp-json\/wp\/v2\/media\/35647"}],"wp:attachment":[{"href":"https:\/\/www.yardi.com\/blog\/wp-json\/wp\/v2\/media?parent=35627"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.yardi.com\/blog\/wp-json\/wp\/v2\/categories?post=35627"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.yardi.com\/blog\/wp-json\/wp\/v2\/tags?post=35627"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}