Wednesday, July 21, 2021

Report: Multifamily Rent Growth Reaching Unprecedented Levels

The Rental Housing Journal has a writeup based on Yardi-Matrix reporting on rent trends in the U.S. Rents are up 6.3% on a year-over-year basis in June, which the report calls "...the largest year-over-year national increase in the history of our data set." The story indicates less of an increase than one reported recently by Bloomberg indicating rents for the first half of the year increased by 9.2%.

The Yardi-Matrix report indicates the factors pushing rent growth are migration, government stimulus money, and a hot housing market. 

The report listed year-over-year rent growth in June of 7.8% for Portland, and forecast an overall 2021 rent growth rate of 5.2%. Seattle's rent growth year-over-year in June is listed at 0.9% with overall 2021 rent increases pegged at 1.9% Read more.

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