Tuesday, November 3, 2015

U.S. Multifamily Rents Flatten in October

The YardiMatrix report for October was the first survey of 2015 in which rents did not increase month-over-month.

Out of 111 markets tracked by YardiMatrix, Portland remains number one in rent growth at 15.1%. Close behind are:

  • San Francisco – 12.1%
  • Seattle – 11.5%
  • Denver – 10.3%

Another trend YardiMatrix reports is short-term bifurcation of growth: higher-end lifestyle property increases are cooling relative to working-class Rent-By-Necessity properties. This is because supply of high-end properties is rising rapidly in many markets while affordability issues are producing more demand on the lower end of the quality spectrum.

For detailed information on granular-level rent trends throughout Oregon and SW Washington, contact any HFO broker at (503) 241-5541.