Press Release brought to you by Yardi

Matrix Monthly documents sizzling September apartment rent growth

09/30/2015

New record high continues unbroken string of monthly increases in 2015.

SANTA BARBARA, CALIF., Sept. 30, 2015 – This year’s trend of ever-increasing U.S. multifamily rents continues unabated.  Rents increased by $5 in September to mark a new record high of $1,167, according to the latest edition of Matrix Monthly, a survey of the 108 markets covered by Yardi® Matrix.

September’s year-over-year increase of 6.8% was 30 basis points higher than the previous two months and the highest growth in the post-recession cycle.  Rents have risen every month in 2015.

Metropolitan areas in the West and Pacific Northwest led the way, with rents in Portland, Ore., rising 16.3% year-over-year, and Southeast metros show consistent rent growth.  While most of the Midwest and Northeast lag, only two metros in the Top 30 covered by the rankings—Richmond, Va., and Washington, D.C.—have growth that falls below the long-term average.

Yardi Matrix serves as a business development tool for brokers, sponsors, banks and equity sources that underwrite multifamily investment transactions.

To see the full September report, click here.  You may subscribe to Matrix Monthly by clicking here. Email matrix@yardi.com or call 480-663-1149 with questions or comments.

About Yardi

Now in its fourth decade, Yardi® is committed to the design, development and support of software for real estate investment management and property management. With the Yardi Commercial Suite™, the Yardi Multifamily Suite™, Yardi Investment Suite™ and Yardi Orion® Business Intelligence, the Yardi Voyager® platform is a complete real estate management solution. It includes operations, accounting and ancillary processes and services with portfolio-wide business intelligence and platform-wide mobility. Yardi is based in Santa Barbara, Calif., and serves clients worldwide from offices in North America, Asia, Australia, Europe and the Middle East. For more information, visit www.yardi.com.

09/30/2015 - 14:15

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