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Apartment rents, on average, rose by $4 in April to $1,377, according to data recently released in a report by Yardi® Matrix. The increase is a 2.4 percent rise year-over-year.

“The healthy seasonal gains are a good sign that rent growth will remain resilient despite the headwinds faced by the market, particularly the peaking supply pipeline that has produced deceleration in some metros,” the report states.

The areas that grew the most in April were Orlando, Fla.; Sacramento, Calif.; Las Vegas, Nev.; Tampa, Fla.; and Phoenix, Ariz.

Get 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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