Economic growth and the tight labor market have kept multifamily demand robust through August, according to Yardi.
Rents rose slightly in August and occupancy rates remained steady. However, there are headwinds that include the rapidly growing expense side of the ledger, led by rising property insurance costs.
Most metros with the highest year-over-year asking rent growth, such as New York City, Chicago, Indianapolis and San Diego, benefit from a weak new supply pipeline.
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