Matrix Monthly documents a fast start to multifamily rents in 2016

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National average in January sets a new all-time high

SANTA BARBARA, CALIF., Jan. 28, 2016 – Multifamily rents started briskly in the new year. The average national rate rose $5 in January to an all-time high of $1,170, according to Matrix Monthly, a compilation of surveys of the 111 markets covered by Yardi® Matrix.

Metros in the West and Southeast led the way, with Portland, Ore., San Francisco, Sacramento, Calif., Seattle and Atlanta comprising the top drivers of year-over-year rent growth in January.

While sounding a cautionary note about the drop in U.S. stock market prices in January and the economic performance of some Asian and European countries, the Matrix Monthly offers an overall optimistic appraisal of rental prospects for 2016: “For the time being, multifamily demand fundamentals and the capital markets are in good shape.”

Yardi Matrix is a business development tool for brokers, sponsors, banks and equity sources that underwrite multifamily investment transactions. To see the full January edition of Matrix Monthly, click here. You may subscribe to Matrix Monthly by clicking here. Email [email protected] or call 480-663-1149 with questions or comments.

About Yardi
Now in its fourth decade, Yardi® is committed to the design, development and support of software for real estate investment management and property management. With the Yardi Commercial Suite™, the Yardi Multifamily Suite, the Yardi Investment Suiteand Yardi Orion® Business Intelligence, the Yardi Voyager® platform is a complete real estate management solution. It includes operations, accounting and ancillary processes and services with portfolio-wide business intelligence and platform-wide mobility. Yardi is based in Santa Barbara, Calif., and serves clients worldwide from offices in North America, Asia, Australia, Europe and the Middle East. For more information, visit www.yardi.com.

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