BY BRAD BECKETT ON JULY 25, 2023
According to the latest Yardi Matrix Multifamily Report, the average U.S. multifamily rent was $1,726 in June (up $7). Click here to read more.
Yardi says year-over-year growth continued its downward slide, and is now 1.8% nationally, down 70 basis points from May – the lowest since 2011 (outside of the pandemic year). Yardi says multifamily demand remains steady but rent growth is slowing. Indeed…
“The multifamily market can best be described as resilient. Though down from the 2021 peaks, occupancy rates have settled at a solid 95.0%. Likewise, rents are growing within a normal seasonal pattern, albeit well below the post-pandemic boom and even below pre-pandemic trends.”