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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.

View the full report.

For more information, please visit www.yardi.com.

For the latest real estate news and trends, bookmark RISMedia.com.

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