U.S. multifamily market seen to remain strong in 2019

A new national report from Yardi® Matrix portrays remarkable consistency in the U.S. multifamily industry. Rents increased by $5 in April 2019 as robust job creation continues to drive absorption of about 300,000 new units per year.

The average rent increase represents year-over-year and year-to-date growth of 3 percent and 0.8 percent, respectively. While these figures, based on a survey of 127 major U.S. real estate markets, represent lower growth than during that period in recent years, “market performance has been remarkably consistent over time and across geographic zones,” the report said. It added, “With the prime rent growth season just starting, it remains to be seen whether this year’s gains will be stellar or merely average, but in any event there seems to be no reason to think the mu