2020 will go down as the year COVID-19 changed everything. As the pandemic became rampant, many initially feared that rents would rapidly decline. But many metros have emerged from 2020 unscathed, and some have even enjoyed significant rent growth. Others have not been so lucky, especially expensive coastal markets, according to the latest multifamily report from Yardi® Matrix.
The sector ended the year on a low note. Multifamily rents declined by 0.8 percent in December on a year-over-year basis, a 30-basis-point decline from November. Overall rents declined by $4 to
