SANTA BARBARA, Calif.--(BUSINESS WIRE)--Multifamily rents in the U.S. were virtually unchanged in January, rising $1 to $1,362, according to a survey of 121 markets by Yardi® Matrix. The new monthly average represents a 2.8% year-over-year increase.
“Rent growth tends to be flat through the winter, so the next few months should provide a clue as to the type of growth we will see in 2018,” the report states. Warm-weather markets accounted for most of the rent growth leaders, while growth was flat in such high-supply markets as Austin, Texas, Nashville, Tenn., and San Antonio.
Year-over-year rent growth leaders in January were Sacramento, Calif., Las Vegas, Orlando and Tampa, Fla., and California’s Inland Empire.
View the full January Yardi Matrix report for additional detail and insight into major U.S. real estate markets.
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