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Apartments’ Y-O-Y Rent Growth Moves Closer to Positive Territory

Although year-over-year national average rents were negative in February by 0.1%, the latest Yardi Matrix National Multifamily Report says they may soon trend into positive territory.

“Year-over-year rents have steadily shifted closer to positive since October,” say Yardi Matrix analysts. “If this trend continues, February could be the last month where we see a national decline.”



Overall rents increased by $3 in February to $1,399. This is the ninth consecutive month where overall rents have increased or remained flat, providing another sign of recovery. Out of 133 markets surveyed by Matrix for February, 111 had positive month-over-month rent growth.

“Outside of the gateway and top 30 markets, we saw a large pop in month-over-month rents in many secondary and tertiary markets,” the analysts note. This continues trends that began a year ago, when renters began looking outside major cities for larger apartments and less expensive rents.

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Read more at Yardi Matrix

About Paul Bubny

Paul Bubny serves as Senior Content Director for Connect Commercial Real Estate, a role to which he brings 13-plus years’ experience covering the commercial real estate industry and 30-plus years in business-to-business journalism. In this capacity, he oversees daily operations while also reporting on both local/regional markets and national trends, covering individual transactions across all property types, as well as delving into broader subject matter. He produces 15-20 daily news stories per day and works with the Connect team and clients to develop longer-form content, ranging from Q&As to thought-leadership pieces. Prior to joining Connect, Paul was Managing Editor for both Real Estate Forum and GlobeSt.com at American Lawyer Media, where he oversaw operations at both publications while also producing daily news and feature-length articles. His tenure in B2B publishing stretches back into the print era, and he has served as Editor in Chief on four national trade publications. Since 1999, Paul has volunteered as the newsletter editor of passenger rail advocacy groups (one national, one local).

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