Apartment rents, on average, rose by $1 in February to $1,364, according to data compiled from 121 markets recently released in a report by Yardi® Matrix. The increase is a 2.7 percent rise year-over-year.
The growth “is not surprising, nor is it something to be disappointed with, since it is very close to the long-term average,” the report states.
The leading areas for growth in February were Orlando, Fla., Sacramento, Calif., Las Vegas, Nev., California’s Inland Empire, and Phoenix, Ariz.
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