Average rents grew 0.8% during the month, reaching a record high
SANTA BARBARA, CALIF., May 27, 2015 – The newly released June 2015 edition of Matrix Monthly reports that average rents of 61 U.S. markets surveyed by Yardi® Matrix rose 0.8% in May. The May average, $1,136, is a record high.
Matrix Monthly also documents double-digit rent growth over the past 12 months in five metropolitan areas: Jacksonville, Fla.; Portland, Ore.; San Francisco; Sacramento, Calif.; and Denver. Rents grew by 2% or less in only a handful of markets, including Baltimore and Washington, D.C.
Matrix Monthly is a monthly survey of apartment owners in 61 of the 94 U.S. markets covered by Yardi’s Pierce-Eislen business unit. Brokers, sponsors, banks and equity sources that underwrite multifamily investment transactions use the report as a business development tool.
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™, Yardi Investment Suite™ and 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.