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.
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