Year-over-year national average apartment rents fell 0.1 percent in February, according to the latest Yardi Matrix National Multifamily Report, but Yardi said they may soon trend into positive territory.
"While national rent growth was negative this month, year-over-year rents have steadily shifted closer to positive since October. If this trend continues, February could be the last month where we see a national decline," stated Yardi Matrix analysts.
Overall rents increased from the previous month by $3 in February to $1,399. This is the ninth consecutive month where overall rents have increased or remained flat, which is another sign of recovery. Out of 133 rental markets surveyed by Matrix for February 2021, 111 had positive month-over-month rent growth.
Mea
