Matrix Monthly Reports National Rental Upswing in April
Average rents rose 4.3% since April 2014 but trailed February 2015 mark
SANTA BARBARA, CALIF., April 28, 2015 – The April 2015 edition of Matrix Monthly, a report on U.S. apartment market trends from Yardi®, documents a 4.3% year-over-year increase in average rents across the country. The average multifamily rent of $1,105 in April represented a one-month increase of 0.7%. The all-time high of $1,108 was recorded in February 2015.
Strong rent escalation in San Francisco, Denver, Seattle and Portland, Ore., accounted for much of the average rent increase in April. Demand for higher-end product also contributed to this trend.
Matrix Monthly is a monthly survey of apartment owners in the 84 U.S. markets covered by Yardi’s Pierce-Eislen business unit. Brokers, sponsors, banks and equity sources that underwrite multifamily investment transactions use the report as a business development tool.
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.
Media Contact: Joel Nelson
Yardi Systems Inc.