The renter exodus from gateway cities such as New York; San Francisco; Washington, D.C.; Chicago; Boston; and Los Angeles continues as gateway markets showed larger declines in year-over-year rents this November than the month prior, states the latest National Multifamily Report from Yardi® Matrix.
Overall, multifamily rents declined by 0.5 percent in November on a year-over-year basis, but more than 100 secondary and tertiary markets are doing better than the national average. Yardi Matrix surveys 135 U.S. metros for multifamily data and includes a selection of the top 30 markets in each month’s national report. In that analysis are some bright spots, including more than 100 secondary tertiary markets that are performing better than the national average and strong performances from Midwestern cities, such as Indianapolis and Ka
