Yardi Matrix Report Illustrates Ongoing U.S. Rent Deceleration in February

Trend conforms with normal seasonal patterns

SANTA BARBARA, Calif.–(BUSINESS WIRE)–Multifamily rents in the U.S. rose $1 in February to $1,364, a 2.7%
year-over-year growth rate, according to a survey of 121 markets by Yardi®
Matrix.

The deceleration of rents since summer 2017 follows a long period of
above-trend growth and a cycle peak of deliveries. The 2.7%
year-over-year national growth rate in February “is not surprising. Nor
is it something to be disappointed with, since it is very close to the
long-term average,” the report says.

The report suggests that demand for apartments could receive a boost
from the new federal tax law, which reduces some of the benefits of
homeownership. “So it’s possible that rent growth will soon pick up as
it normally does in the spring months.”

Year-over-year rent growth leaders in February were Orlando, Fla.,
Sacramento, Calif., Las Vegas, California’s Inland Empire and Phoenix.

View
the full February 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.

Contacts

Yardi Systems Inc.
Jeff Adler, 303-908-5242
[email protected]