Yardi Matrix Notes Decrease in Multifamily Rent Growth in Sun Belt

According to the latest Yardi Matrix National Multifamily Report, the multifamily market performed well in April, with rents increasing for the second month. The average asking rent in the US increased by $6 to $1,725 last month. The year-over-year growth rate remained unchanged at 0.7%. However, the report noted a decrease in negative rent growth in several high-supply Sun Belt markets. Austin, Phoenix, and Tampa, Florida, showed the lowest rent growth rates, while Boston and Raleigh, North Carolina, continued to experience the highest year-over-year rent growth.


Source: https://www.orionprop.com/topfive/multifamily-rents-rise-for-second-straight-month/

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