The latest Yardi Matrix National Multifamily Report paints a picture of a broadening recovery in apartment rents. In the report, you’ll find several of Cove’s favorite markets showing some of the most robust rent trends nationally, including Houston, Atlanta, Austin, Tucson, and the NC Triad.
You don’t have to take Yardi’s word for it. The latest Apartment List National Rent Report showed a 1.1% annual increase for March, the largest increase since they began publishing their national rent index in 2017. With the latest improvement, year-over-year rent growth at the national level has now turned positive, eliminating the pandemic.
Even more interesting is that while “coastal elite” cities like New York, Boston, D.C., and San Francisco are bouncing back, the gains are NOT coming at the expense of pandemic beneficiaries like Boise, Tucson, and Greensboro, NC.