Report: National Average Multifamily Rent Was $1,729 in JulyBy RISMedia Staff
Multifamily performance was solid in July, as rents nationally rose $2 to $1,729, or 1.6% year-over-year (YoY), according to the latest Yardi® Matrix National Multifamily Report.
The report shows demand is buoyed by the healthy job market, as the U.S. economy added 1.7 million jobs in the first half of 2023. The numbers:
“While we still expect the economy to cool in coming quarters, the fact that second quarter job and GDP numbers were strong while inflation recedes has confounded the economic consensus. As long as that continues, consumer balance sheets will stay strong and apartment demand is likely to be firm,” say Matrix analysts. To see the full report, visit Yardi Matrix National Multifamily Report. |
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