U.S. Rents Change Little in January, Yardi Matrix Reports

Slight gain in average rent conforms with an expected seasonal pattern

SANTA BARBARA, Calif.--()--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.

Yardi Matrix is a business development and asset management tool for investment professionals, equity investors, lenders, and property managers who underwrite and manage investments in commercial real estate. Yardi Matrix covers multifamily, industrial, office and self storage property types. Email matrix@yardi.com, call 480-663-1149 or visit yardimatrix.com to learn more.

About Yardi

Yardi develops and supports industry-leading investment and property management software for all types and sizes of real estate companies. Established in 1984, Yardi is based in Santa Barbara, Calif., and serves clients worldwide. For more information on how Yardi is Energized for Tomorrow, visit yardi.com.

Contacts

Yardi Systems Inc.
Jeff Adler, 303-908-5242
Jeff.Adler@Yardi.com

Release Summary

Multifamily rents in the U.S. were virtually unchanged in January, rising $1 to $1,362, according to Yardi® Matrix.

Contacts

Yardi Systems Inc.
Jeff Adler, 303-908-5242
Jeff.Adler@Yardi.com