Market Overview

Matrix Monthly: Multifamily Rents Hold Steady in November

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SANTA BARBARA, Calif.--(BUSINESS WIRE)--

U.S. multifamily rents continued their flat growth pattern of the last two months, dropping by $1 to $1,165 nationwide, according to the most recent edition of Matrix Monthly, a survey of the 111 markets covered by Yardi® Matrix.

Rents had risen for nine straight months before remaining virtually unchanged in November. Mild growth during the winter months is a normal seasonal phenomenon.

Rents increased by 6.4% year-over-year in November, a 30-basis-point decline from October but 190 basis points more than the 4.5% rent growth recorded in November 2014. Rental markets in Portland, Ore., San Francisco, Sacramento, Calif., Seattle, Atlanta and Denver were among the year-over-year leaders last month.

Yardi Matrix serves as a business development tool for brokers, sponsors, banks and equity sources that underwrite multifamily investment transactions.

To see the full November report, click here. You may subscribe to Matrix Monthly by clicking here. Email matrix@yardi.com or call 480-663-1149 with questions or comments.

About Yardi

Now in its fourth decade, Yardi® is committed to the design, development and support of software for real estate investment management and property management. With the Yardi Commercial Suite™, the Yardi Multifamily Suite, Yardi Investment Suiteand Yardi Orion® Business Intelligence, the Yardi Voyager® platform is a complete real estate management solution. It includes operations, accounting and ancillary processes and services with portfolio-wide business intelligence and platform-wide mobility. Yardi is based in Santa Barbara, Calif., and serves clients worldwide from offices in North America, Asia, Australia, Europe and the Middle East. For more information, visit www.yardi.com.

Yardi Systems Inc.
Joel Nelson, 800-866-1144 x1255
Joel.Nelson@yardi.com

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