Matrix

Year-over-year growth has increased by 10 basis points to 3.3 percent, according to a Yardi Matrix survey of 127 markets, matching the highest rent growth since November 2016.

Rents are expected to rise at a rate of 2.8 percent, performing strongest in late-cycle markets such as Las Vegas, Phoenix and Orlando, which have reached the 4 percent mark for several months. 

Annual rent growth has risen at least 2.9 percent every year and has surpassed 3 percent in six of the last eight years, according to a survey of 127 markets by Yardi Matrix.

Year-over-year growth for November decreased by 10 basis points to 3.1 percent, according to a survey of 127 markets by Yardi Matrix.

Rent growth remained unchanged year-over-year at 3.3 percent in October, according to a survey of 127 markets by Yardi Matrix.

The $1 drop marks the first time rents have not increased since January. Despite this, prices increased 3.1 percent year-to-date, according to a Yardi Matrix survey of 127 markets.

According to a Yardi Matrix survey of 127 markets, this spike represents a 3.1 percent year-over-year increase, up 10 basis points from July.

Year-over-year, rents have risen by 2.8 percent, reaching an all-time high of $1,409. Among the top 30 metros, Orlando once again came out ahead with the highest rental increase, at 6.9 percent.

Despite consistent supply growth and the lack of affordability in major metros, rents increased by $29 in quarter two, up 2.1 percent for the quarter and 2.6 percent for the first half. 

The year-over-year increase hit its lowest point over the last seven years, falling by 2 percent and down 70 basis points, according to Yardi Matrix’s latest survey of 121 markets.

Although down 20 basis points from March, rents have once again risen $4 in April, with a year-over-year increase of 2.4 percent.

Despite the average U.S. rental increase of $4, growth in the first quarter was weak compared to previous years, with gains averaging 1 percent in the first quarter of each of the last three years.