Tuesday, April 28, 2015

U.S. Rent Growth at 44 Month High

Anyone who thought the strength that fundamental apartment market metrics demonstrated in 2014 would suddenly change with the new year thought wrong.

Annual effective rent growth, for one, has reached heights not seen in 44 months, reports Axiometrics.

The national annual effective rent growth rate was 5 percent in February 2015, the second time in three months the metric has reached that mark when rounded to one decimal place.

By extending the figure a second decimal place, February's rate of 5.05 percent was 8 basis points (bps) higher than December 2014's 4.97 percent. July 2011 (5.3 percent) was the last time annual rent growth exceeded the February figure.

*Units Magazine, April, 2015.