BY BRAD BECKETT ON NOVEMBER 15, 2021
According to the latest Yardi Matrix, the average U.S. multifamily rents in October increased $23 to $1,572 (13.7% year-over-year). Yardi says the growth is driven by an ongoing surge in demand that started in the spring and has yet to subside. Click here to read more.
“But 2021 is not a normal year. The combination of pent-up demand, rapid job growth, increase in single-family prices keeping renters in place, long-term shortage of supply, and rapid migration to markets with low-cost housing has created seemingly inexhaustible demand…”