Apartment rents, on average, held in September at $1,354, according to data compiled from 121 markets recently released in a report by Yardi® Matrix.
“The labor shortage is expected to worsen in some areas as workers migrate to Houston and Florida to assist in the efforts to rebuild after Hurricanes Harvey and Irma,” the report states. “We don’t believe it’s time to turn out the lights on the expansion in the multifamily sector. Job growth and social and demographic trends foretell strong demand for the next few years. Capital forces remain healthy, as well.”
The leading areas for growth in September were Sacramento, Calif., Seattle, Wash., California’s Inland Empire, Minneapolis-St. Paul, Minn. and Orlando, Fla.
For more information, please visit www.yardi.com.
For the latest real estate news and trends, bookmark RISMedia.com.