Multifamily Rents Continue To Grow Through January

Average U.S. monthly rents rose by $5 in January, demonstrating strength to start the year after a seasonal flattening at the end of 2016. Rents increased to $1,315, according to Yardi Matrix’s monthly survey of 124 markets. On a year-over-year basis, rents were up 4.6 percent nationwide in January, a 30-basis-point increase from December, though still 240 basis points below the recent high of 7 percent in January 2016.