{"id":35877,"date":"2023-05-10T14:09:17","date_gmt":"2023-05-10T21:09:17","guid":{"rendered":"https:\/\/www.yardi.com\/blog\/?p=35877"},"modified":"2026-02-22T15:26:48","modified_gmt":"2026-02-22T23:26:48","slug":"rents-rise-again","status":"publish","type":"post","link":"https:\/\/www.yardi.com\/blog\/rents-rise-again\/","title":{"rendered":"Rents Rise Again"},"content":{"rendered":"\n

Multifamily asking rents rose for the second straight month in April, according to the new\u00a0National Multifamily Report<\/a>\u00a0from Yardi Matrix.<\/p>\n\n\n

\n
\"\"<\/figure><\/div>\n\n\n

Despite economic headwinds, the market continues to demonstrate resilience. The average U.S. asking rent rose $5 in April to $1,709, while year-over-year growth decelerated to 3.2 percent, down 80 basis points from March.<\/p>\n\n\n\n

Solid demand has kept rents rising, but at a slower rate than previous years. Demand is buoyed by a tight job market and healthy household budgets, although economists are scrutinizing how much longer those conditions will persist. A recession is still forecast for later this year.<\/p>\n\n\n\n

\u201cRent growth is broadly positive nationally, but regional differences are emerging. High-demand Sun Belt metros are feeling the impact of reduced affordability and robust deliveries, while primary metros have less supply growth and some benefit from rebounding immigration,\u201d states the new report.<\/p>\n\n\n\n

Multifamily rent gains remain positive year-over-year everywhere but Phoenix and Las Vegas, but the top-performing markets are different each month. In April, Indianapolis (7.7 percent) and Kansas City (6.4 percent) led the top 30 Matrix metros in rent growth, while primary metros New York, Boston and Chicago round out the top five.<\/p>\n\n\n\n

Single-family unit rents also hit a new all-time high in April, averaging $2,089, but year-over-year rates once again decelerated, dropping 60 basis points to 2.3 percent. Occupancy rates decreased in March to 95.5 percent but have stabilized after peaking at 97 percent in 2021.<\/p>\n\n\n\n

Gain more insights by downloading April\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 for the second straight month in April, according to the new\u00a0National Multifamily Report\u00a0from Yardi Matrix. Despite economic headwinds, the market continues to demonstrate resilience. The average U.S. asking rent rose $5 in April to $1,709, while year-over-year growth decelerated to 3.2 percent, down 80 basis points from March. Solid demand has […]<\/p>\n","protected":false},"author":413,"featured_media":35880,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"_s2mail":"","_jetpack_memberships_contains_paid_content":false,"footnotes":""},"categories":[2791],"tags":[29,1169],"class_list":["post-35877","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-matrix","tag-multifamily","tag-yardi-matrix"],"acf":[],"yoast_head":"\nYardi Blog<\/title>\n<meta name=\"description\" content=\"Multifamily asking rents rose for the second straight month in April, according to the new\u00a0National Multifamily Report\u00a0from Yardi Matrix. Despite economic\" \/>\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-again\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"Rents Rise Again\" \/>\n<meta property=\"og:description\" content=\"Multifamily asking rents rose for the second straight month in April, according to the new\u00a0National Multifamily Report\u00a0from Yardi Matrix. Despite economic\" \/>\n<meta property=\"og:url\" content=\"https:\/\/www.yardi.com\/blog\/rents-rise-again\/\" \/>\n<meta property=\"og:site_name\" content=\"Yardi Blog\" \/>\n<meta property=\"article:published_time\" content=\"2023-05-10T21:09:17+00:00\" \/>\n<meta property=\"article:modified_time\" content=\"2026-02-22T23:26:48+00:00\" \/>\n<meta property=\"og:image\" content=\"https:\/\/www.yardi.com\/blog\/wp-content\/uploads\/sites\/15\/2023\/05\/Matrix_Blog_NationalReport_Multifamily_April_2023.jpg\" \/>\n\t<meta property=\"og:image:width\" content=\"1200\" \/>\n\t<meta property=\"og:image:height\" content=\"630\" \/>\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-again\/\",\"url\":\"https:\/\/www.yardi.com\/blog\/rents-rise-again\/\",\"name\":\"Rents Rise Again - Yardi Corporate Blog\",\"isPartOf\":{\"@id\":\"https:\/\/www.yardi.com\/blog\/#website\"},\"primaryImageOfPage\":{\"@id\":\"https:\/\/www.yardi.com\/blog\/rents-rise-again\/#primaryimage\"},\"image\":{\"@id\":\"https:\/\/www.yardi.com\/blog\/rents-rise-again\/#primaryimage\"},\"thumbnailUrl\":\"https:\/\/www.yardi.com\/blog\/wp-content\/uploads\/sites\/15\/2023\/05\/Matrix_Blog_NationalReport_Multifamily_April_2023.jpg\",\"datePublished\":\"2023-05-10T21:09:17+00:00\",\"dateModified\":\"2026-02-22T23:26:48+00:00\",\"author\":{\"@id\":\"https:\/\/www.yardi.com\/blog\/#\/schema\/person\/81b16a7aea318dbdaaa0a17b776a0c52\"},\"description\":\"Multifamily asking rents rose for the second straight month in April, according to the new\u00a0National Multifamily Report\u00a0from Yardi Matrix. Despite economic\",\"breadcrumb\":{\"@id\":\"https:\/\/www.yardi.com\/blog\/rents-rise-again\/#breadcrumb\"},\"inLanguage\":\"en-US\",\"potentialAction\":[{\"@type\":\"ReadAction\",\"target\":[\"https:\/\/www.yardi.com\/blog\/rents-rise-again\/\"]}]},{\"@type\":\"ImageObject\",\"inLanguage\":\"en-US\",\"@id\":\"https:\/\/www.yardi.com\/blog\/rents-rise-again\/#primaryimage\",\"url\":\"https:\/\/www.yardi.com\/blog\/wp-content\/uploads\/sites\/15\/2023\/05\/Matrix_Blog_NationalReport_Multifamily_April_2023.jpg\",\"contentUrl\":\"https:\/\/www.yardi.com\/blog\/wp-content\/uploads\/sites\/15\/2023\/05\/Matrix_Blog_NationalReport_Multifamily_April_2023.jpg\",\"width\":1200,\"height\":630},{\"@type\":\"BreadcrumbList\",\"@id\":\"https:\/\/www.yardi.com\/blog\/rents-rise-again\/#breadcrumb\",\"itemListElement\":[{\"@type\":\"ListItem\",\"position\":1,\"name\":\"Home\",\"item\":\"https:\/\/www.yardi.com\/blog\/\"},{\"@type\":\"ListItem\",\"position\":2,\"name\":\"Rents Rise Again\"}]},{\"@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 for the second straight month in April, according to the new\u00a0National Multifamily Report\u00a0from Yardi Matrix. Despite economic","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-again\/","og_locale":"en_US","og_type":"article","og_title":"Rents Rise Again","og_description":"Multifamily asking rents rose for the second straight month in April, according to the new\u00a0National Multifamily Report\u00a0from Yardi Matrix. Despite economic","og_url":"https:\/\/www.yardi.com\/blog\/rents-rise-again\/","og_site_name":"Yardi Blog","article_published_time":"2023-05-10T21:09:17+00:00","article_modified_time":"2026-02-22T23:26:48+00:00","og_image":[{"width":1200,"height":630,"url":"https:\/\/www.yardi.com\/blog\/wp-content\/uploads\/sites\/15\/2023\/05\/Matrix_Blog_NationalReport_Multifamily_April_2023.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-again\/","url":"https:\/\/www.yardi.com\/blog\/rents-rise-again\/","name":"Rents Rise Again - Yardi Corporate Blog","isPartOf":{"@id":"https:\/\/www.yardi.com\/blog\/#website"},"primaryImageOfPage":{"@id":"https:\/\/www.yardi.com\/blog\/rents-rise-again\/#primaryimage"},"image":{"@id":"https:\/\/www.yardi.com\/blog\/rents-rise-again\/#primaryimage"},"thumbnailUrl":"https:\/\/www.yardi.com\/blog\/wp-content\/uploads\/sites\/15\/2023\/05\/Matrix_Blog_NationalReport_Multifamily_April_2023.jpg","datePublished":"2023-05-10T21:09:17+00:00","dateModified":"2026-02-22T23:26:48+00:00","author":{"@id":"https:\/\/www.yardi.com\/blog\/#\/schema\/person\/81b16a7aea318dbdaaa0a17b776a0c52"},"description":"Multifamily asking rents rose for the second straight month in April, according to the new\u00a0National Multifamily Report\u00a0from Yardi Matrix. Despite economic","breadcrumb":{"@id":"https:\/\/www.yardi.com\/blog\/rents-rise-again\/#breadcrumb"},"inLanguage":"en-US","potentialAction":[{"@type":"ReadAction","target":["https:\/\/www.yardi.com\/blog\/rents-rise-again\/"]}]},{"@type":"ImageObject","inLanguage":"en-US","@id":"https:\/\/www.yardi.com\/blog\/rents-rise-again\/#primaryimage","url":"https:\/\/www.yardi.com\/blog\/wp-content\/uploads\/sites\/15\/2023\/05\/Matrix_Blog_NationalReport_Multifamily_April_2023.jpg","contentUrl":"https:\/\/www.yardi.com\/blog\/wp-content\/uploads\/sites\/15\/2023\/05\/Matrix_Blog_NationalReport_Multifamily_April_2023.jpg","width":1200,"height":630},{"@type":"BreadcrumbList","@id":"https:\/\/www.yardi.com\/blog\/rents-rise-again\/#breadcrumb","itemListElement":[{"@type":"ListItem","position":1,"name":"Home","item":"https:\/\/www.yardi.com\/blog\/"},{"@type":"ListItem","position":2,"name":"Rents Rise Again"}]},{"@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\/05\/Matrix_Blog_NationalReport_Multifamily_April_2023.jpg","jetpack_sharing_enabled":true,"_links":{"self":[{"href":"https:\/\/www.yardi.com\/blog\/wp-json\/wp\/v2\/posts\/35877","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=35877"}],"version-history":[{"count":3,"href":"https:\/\/www.yardi.com\/blog\/wp-json\/wp\/v2\/posts\/35877\/revisions"}],"predecessor-version":[{"id":35881,"href":"https:\/\/www.yardi.com\/blog\/wp-json\/wp\/v2\/posts\/35877\/revisions\/35881"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/www.yardi.com\/blog\/wp-json\/wp\/v2\/media\/35880"}],"wp:attachment":[{"href":"https:\/\/www.yardi.com\/blog\/wp-json\/wp\/v2\/media?parent=35877"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.yardi.com\/blog\/wp-json\/wp\/v2\/categories?post=35877"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.yardi.com\/blog\/wp-json\/wp\/v2\/tags?post=35877"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}