Multifamily Market Sustains Positive Cycle, Yardi Matrix Reports

Year-over-year growth tops 3% for 13^th month. Will the economy
stifle momentum?

SANTA BARBARA, Calif.,
Aug. 13, 2019 – U.S. multifamily
rents continued their impressive performance with a 3.4% year-over-year
increase in July 2019, according to a new report from Yardi® Matrix.

Leading gainers
included fast-growing Southwest and South metros Las Vegas, Phoenix, Charlotte
and Raleigh, N.C., Atlanta and Nashville, Tenn. Rent growth was also strong in
areas with concentrations of technology industries such as Boston, Seattle and
Portland, Ore.

Even as multifamily
fundamentals remain healthy almost everywhere, questions about the overall economy
represent “potential for market volatility and slower growth,” the report says.

The average U.S.
multifamily rent rose $3 in July, reaching $1,469. Sacramento, Calif., and
Austin, Texas, joined Las Vegas, Phoenix and Charlotte as the month’s year-over-year
growth leaders. Annual rent growth has topped 3% on a year-over-year basis for
each of the past 13 months.

Read more in the Yardi
Matrix multifamily national report for July 2019, which is available
for download.

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.