Apartment rents, on average, fell by $1 in November to $1,358, according to data compiled from 121 markets recently released in a report by Yardi® Matrix.
“Despite the slight dip…the overall growth rate remains steady amid headwinds that include a cycle high of new supply, the declining affordability of big coastal metros and a slowdown in technology industry employment growth” in the Pacific Northwest,” the report states.
The leading areas for growth in November were Sacramento, Calif., Las Vegas, Nev., Orlando, Fla., California’s Inland Empire, and Minneapolis-St. Paul, Minn.
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