U.S. apartment rents rose 6.5% year-over-year in July to a record $1,155, according to the July 2015 edition of Matrix Monthly, a report on U.S. multifamily market trends from Yardi.
Technology-fueled markets in the western U.S. continued to spearhead growth, led by Portland, Ore., Denver and San Francisco. Growth is strong across the board in all 30 of the markets featured in the Matrix Monthly, with only five metros experiencing less than a 4% increase year-over-year.
Matrix Monthly is a monthly survey of apartment owners in the 101 U.S. markets covered by the YardiMatrix business unit (formerly Pierce-Eislen). Brokers, sponsors, banks and equity sources that underwrite multifamily investment transactions use the report as a business development tool.
The full report can be found at: http://www.yardimatrix.com/downloads/reports/matrix-monthly/Yardi-Matrix-Monthly-Jul-2015.pdf
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