Apartment rents, on average, fell by $2 in November to $1,214, according to data compiled from 123 markets recently released in a report by Yardi® Matrix.
“Rent growth normally slows or reverses in the latter part of the year, as fewer people move during the holidays,” according to Yardi’s report, offering reassurance that “the multifamily market is in good shape going forward.”
The leading areas for growth in November were Las Vegas, Nev., Miami, Fla., Orange County, Calif., and Richmond, Va. The metros in which rents trailed the most overall were Baltimore, Md., Boston, Mass., Denver, Colo., San Francisco, Calif., and Seattle, Wash.
View the full report here.
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