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RentCafe Suite
REACH by RentCafe
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Procure to Pay Suite 
Energy Suite
Aspire
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Matrix
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Multifamily
year-over-year rent growth remained negative at -0.3%, unchanged from June
SANTA BARBARA, Calif.,
August 4, 2020 – The
majority of U.S. cities saw improved rental market performance in July, according to the latest Yardi Matrix® report analyzing the multifamily sector. Out of the
top 30 markets, 25 showed improved performance from June. Atlanta, Denver and
Phoenix did especially well, logging the largest increases from May to July at
1.0% growth.
Year-over-year
rent growth decreased 0.3% nationwide as 17 of the top 30 markets saw negative
rent growth. West Coast and gateway markets continue to show steep declines,
with San Jose (-5.0%) and San Francisco (-4.1%) leading yet again. Notably, the
“renter-by-necessity” asset class is holding strong, with national rents for
this category increasing 1.2% year-over-year in July.
Rent payments
continue to be on par with last year, with 93.3% of apartment households making
a full or partial rent payment by July 27, according to the National Multifamily Housing Council’s Rent
Payment Tracker.
“With another stimulus
check, August rent payments will likely be in line with the strong payment
trends we have seen since the beginning of the pandemic,” states the report.
Final approval of another federal stimulus deal, however, is still unclear as
of today.
Dive deeper into the full July National Multifamily Report.
About Yardi Matrix
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, student housing, 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.
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