Yardi Matrix Report Shows U.S. Rent Surge in April

SANTA BARBARA, California, May 9, 2018 /PRNewswire/ --

Multifamily rents in the U.S. performed strongly in April, rising $4 to $1,377, according to a survey of 121 markets by Yardi^® Matrix. Rents have increased by $10 in the last two months, a year-over-year gain of 2.4% and the market's best performance since last spring.

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The gain conforms to the multifamily market's historically strong springtime performance, allaying concerns that surging deliveries from summer 2017 to February 2018 would dampen growth.

"The healthy seasonal gains are a good sign that rent growth will remain resilient despite the headwinds faced by the market, particularly the peaking supply pipeline that has produced deceleration in some metros," the report says.

Year-over-year rent growth leaders in April were Orlando, Fla., Sacramento, Calif., Las Vegas, Tampa, Fla., and Phoenix.

View the full April Yardi Matrix report for additional detail and insight into 121 major U.S. real estate markets.

Yardi Matrix offers the industry's most comprehensive market intelligence 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 [email protected], 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.

SOURCE Yardi Systems