{"id":1508,"date":"2021-08-10T08:44:47","date_gmt":"2021-08-10T08:44:47","guid":{"rendered":"https:\/\/www.yardimatrix.com\/blog\/?p=1508"},"modified":"2024-02-06T11:11:06","modified_gmt":"2024-02-06T11:11:06","slug":"national-multifamily-rent-growth-jumps-again-in-july-yardi-matrix-reports","status":"publish","type":"post","link":"https:\/\/www.yardimatrix.com\/blog\/national-multifamily-rent-growth-jumps-again-in-july-yardi-matrix-reports\/","title":{"rendered":"National Multifamily Rent Growth Jumps Again in July, Yardi Matrix Reports"},"content":{"rendered":"\n

Asking rents increased by 8.3 percent last month as gateway markets make a strong comeback<\/em><\/p>\n\n\n\n

SANTA BARBARA, Calif., August 9, 2021<\/strong> \u2013 Multifamily asking rents jumped another 8.3 percent in July, bringing the year-to-date increase to a record-shattering 8 percent. Overall, national average rents grew $26 in July to $1,510, reports Yardi\u00ae Matrix. <\/p>\n\n\n\n

The back-to-back record months<\/a><\/strong> reflect a faster than expected recovery for the multifamily market but especially for gateway metros, which are quickly making up lost ground. San Jose (3.6 percent growth) leads, followed by Boston (3.2 percent) and New York (3 percent). Of the 140 metros that Yardi Matrix covers, 50 had double-digit year-over-year (YoY) rent growth in July, and 129 out of 140 had positive YoY growth.<\/p>\n\n\n\n

The report notes that single-family (build-to-rent) rents continue to grow at an even faster pace than multifamily, with national rents up 12.8 percent YoY. Occupancy continues to rise as well, up 1.2 percent YoY.<\/p>\n\n\n\n

\u201cThe demand for multifamily has produced a remarkable recovery across the country,\u201d say Matrix analysts. \u201cThe recovery of the multifamily industry is no longer limited to the Southeast and Southwest metros that have fared well during the pandemic \u2013 it\u2019s nationwide.\u201d Note that the data reflects asking rents by landlords and property managers. Rent increases for renewals are growing at a slower pace.<\/p>\n\n\n\n

Yardi Matrix data is supported by many publicly traded REITs, which report similar increases. REITs that are concentrated in the Sun Belt are showing even higher gains, some reaching double digits. Gain more insight on the sector\u2019s resurgence from the latest Matrix Multifamily Market report<\/strong><\/a>.<\/p>\n\n\n\n

Yardi Matrix offers the industry\u2019s most comprehensive market intelligence tool for investment professionals, equity investors, lenders and property managers who underwrite and manage investments in commercial real estate. Yardi Matrix covers multifamily, student housing, industrial, office and self storage property types. Email matrix@yardi.com<\/a>, call (480) 663-1149 or visit yardimatrix.com<\/a> to learn more.<\/p>\n\n\n\n

About Yardi<\/strong><\/p>\n\n\n\n

Yardi\u00ae develops and supports industry-leading investment and property management software for all types and sizes of real estate companies. Established in 1984, Yardi is based in Santa Barbara, Calif., and serves clients worldwide. For more information on how Yardi is Energized for Tomorrow, visit yardi.com<\/a>.<\/p>\n\n\n\n

<\/div>\n","protected":false},"excerpt":{"rendered":"

Asking rents increased by 8.3 percent last month as gateway markets make a strong comeback SANTA BARBARA, Calif., August 9, 2021 \u2013 Multifamily asking rents jumped another 8.3 percent in July, bringing the year-to-date increase to a record-shattering 8 percent. Overall, national average rents grew $26 in July to $1,510, reports Yardi\u00ae Matrix. The back-to-back […]<\/p>\n","protected":false},"author":650,"featured_media":1509,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_jetpack_memberships_contains_paid_content":false,"footnotes":""},"categories":[28,29],"tags":[221],"class_list":["post-1508","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-news","category-press-releases","tag-multifamily-outlook-2021"],"yoast_head":"\nNational Multifamily Rent Growth Jumps Again in July, Yardi Matrix Reports - Yardi Matrix Blog<\/title>\n<meta name=\"description\" content=\"Multifamily asking rents jumped another 8.3 percent in July, bringing the year-to-date increase to a record-shattering 8 percent.\" \/>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/www.yardimatrix.com\/blog\/national-multifamily-rent-growth-jumps-again-in-july-yardi-matrix-reports\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"National Multifamily Rent Growth Jumps Again in July, Yardi Matrix Reports\" \/>\n<meta property=\"og:description\" content=\"Multifamily asking rents jumped another 8.3 percent in July, bringing the year-to-date increase to a record-shattering 8 percent.\" \/>\n<meta property=\"og:url\" content=\"https:\/\/www.yardimatrix.com\/blog\/national-multifamily-rent-growth-jumps-again-in-july-yardi-matrix-reports\/\" \/>\n<meta property=\"og:site_name\" content=\"Yardi Matrix Blog\" \/>\n<meta property=\"article:published_time\" content=\"2021-08-10T08:44:47+00:00\" \/>\n<meta property=\"article:modified_time\" content=\"2024-02-06T11:11:06+00:00\" \/>\n<meta property=\"og:image\" content=\"https:\/\/www.yardimatrix.com\/blog\/wp-content\/uploads\/sites\/39\/2021\/08\/Matrix_NationalReport_Multifamily_1200x628_July_Blog_Image.jpg\" \/>\n\t<meta property=\"og:image:width\" content=\"1200\" \/>\n\t<meta property=\"og:image:height\" content=\"630\" \/>\n\t<meta property=\"og:image:type\" content=\"image\/jpeg\" \/>\n<meta name=\"author\" content=\"lilianam\" \/>\n<meta name=\"twitter:card\" content=\"summary_large_image\" \/>\n<meta name=\"twitter:label1\" content=\"Written by\" \/>\n\t<meta name=\"twitter:data1\" content=\"Jeff Adler\" \/>\n\t<meta name=\"twitter:label2\" content=\"Est. reading time\" \/>\n\t<meta name=\"twitter:data2\" content=\"2 minutes\" \/>\n<!-- \/ Yoast SEO Premium plugin. -->","yoast_head_json":{"title":"National Multifamily Rent Growth Jumps Again in July, Yardi Matrix Reports - Yardi Matrix Blog","description":"Multifamily asking rents jumped another 8.3 percent in July, bringing the year-to-date increase to a record-shattering 8 percent.","robots":{"index":"index","follow":"follow","max-snippet":"max-snippet:-1","max-image-preview":"max-image-preview:large","max-video-preview":"max-video-preview:-1"},"canonical":"https:\/\/www.yardimatrix.com\/blog\/national-multifamily-rent-growth-jumps-again-in-july-yardi-matrix-reports\/","og_locale":"en_US","og_type":"article","og_title":"National Multifamily Rent Growth Jumps Again in July, Yardi Matrix Reports","og_description":"Multifamily asking rents jumped another 8.3 percent in July, bringing the year-to-date increase to a record-shattering 8 percent.","og_url":"https:\/\/www.yardimatrix.com\/blog\/national-multifamily-rent-growth-jumps-again-in-july-yardi-matrix-reports\/","og_site_name":"Yardi Matrix Blog","article_published_time":"2021-08-10T08:44:47+00:00","article_modified_time":"2024-02-06T11:11:06+00:00","og_image":[{"width":1200,"height":630,"url":"https:\/\/www.yardimatrix.com\/blog\/wp-content\/uploads\/sites\/39\/2021\/08\/Matrix_NationalReport_Multifamily_1200x628_July_Blog_Image.jpg","type":"image\/jpeg"}],"author":"lilianam","twitter_card":"summary_large_image","twitter_misc":{"Written by":"Jeff Adler","Est. reading time":"2 minutes"},"schema":{"@context":"https:\/\/schema.org","@graph":[{"@type":"Article","@id":"https:\/\/www.yardimatrix.com\/blog\/national-multifamily-rent-growth-jumps-again-in-july-yardi-matrix-reports\/#article","isPartOf":{"@id":"https:\/\/www.yardimatrix.com\/blog\/national-multifamily-rent-growth-jumps-again-in-july-yardi-matrix-reports\/"},"author":{"name":"lilianam","@id":"https:\/\/www.yardimatrix.com\/blog\/#\/schema\/person\/877efe30f5be34ed3f8b5f334c96a8e0"},"headline":"National Multifamily Rent Growth Jumps Again in July, Yardi Matrix Reports","datePublished":"2021-08-10T08:44:47+00:00","dateModified":"2024-02-06T11:11:06+00:00","mainEntityOfPage":{"@id":"https:\/\/www.yardimatrix.com\/blog\/national-multifamily-rent-growth-jumps-again-in-july-yardi-matrix-reports\/"},"wordCount":360,"commentCount":0,"publisher":{"@id":"https:\/\/www.yardimatrix.com\/blog\/#organization"},"image":{"@id":"https:\/\/www.yardimatrix.com\/blog\/national-multifamily-rent-growth-jumps-again-in-july-yardi-matrix-reports\/#primaryimage"},"thumbnailUrl":"https:\/\/www.yardimatrix.com\/blog\/wp-content\/uploads\/sites\/39\/2021\/08\/Matrix_NationalReport_Multifamily_1200x628_July_Blog_Image.jpg","keywords":["Multifamily Outlook 2021"],"articleSection":["News","Press Releases"],"inLanguage":"en-US","potentialAction":[{"@type":"CommentAction","name":"Comment","target":["https:\/\/www.yardimatrix.com\/blog\/national-multifamily-rent-growth-jumps-again-in-july-yardi-matrix-reports\/#respond"]}]},{"@type":"WebPage","@id":"https:\/\/www.yardimatrix.com\/blog\/national-multifamily-rent-growth-jumps-again-in-july-yardi-matrix-reports\/","url":"https:\/\/www.yardimatrix.com\/blog\/national-multifamily-rent-growth-jumps-again-in-july-yardi-matrix-reports\/","name":"National Multifamily Rent Growth Jumps Again in July, Yardi Matrix Reports - Yardi Matrix Blog","isPartOf":{"@id":"https:\/\/www.yardimatrix.com\/blog\/#website"},"primaryImageOfPage":{"@id":"https:\/\/www.yardimatrix.com\/blog\/national-multifamily-rent-growth-jumps-again-in-july-yardi-matrix-reports\/#primaryimage"},"image":{"@id":"https:\/\/www.yardimatrix.com\/blog\/national-multifamily-rent-growth-jumps-again-in-july-yardi-matrix-reports\/#primaryimage"},"thumbnailUrl":"https:\/\/www.yardimatrix.com\/blog\/wp-content\/uploads\/sites\/39\/2021\/08\/Matrix_NationalReport_Multifamily_1200x628_July_Blog_Image.jpg","datePublished":"2021-08-10T08:44:47+00:00","dateModified":"2024-02-06T11:11:06+00:00","description":"Multifamily asking rents jumped another 8.3 percent in July, bringing the year-to-date increase to a record-shattering 8 percent.","breadcrumb":{"@id":"https:\/\/www.yardimatrix.com\/blog\/national-multifamily-rent-growth-jumps-again-in-july-yardi-matrix-reports\/#breadcrumb"},"inLanguage":"en-US","potentialAction":[{"@type":"ReadAction","target":["https:\/\/www.yardimatrix.com\/blog\/national-multifamily-rent-growth-jumps-again-in-july-yardi-matrix-reports\/"]}]},{"@type":"ImageObject","inLanguage":"en-US","@id":"https:\/\/www.yardimatrix.com\/blog\/national-multifamily-rent-growth-jumps-again-in-july-yardi-matrix-reports\/#primaryimage","url":"https:\/\/www.yardimatrix.com\/blog\/wp-content\/uploads\/sites\/39\/2021\/08\/Matrix_NationalReport_Multifamily_1200x628_July_Blog_Image.jpg","contentUrl":"https:\/\/www.yardimatrix.com\/blog\/wp-content\/uploads\/sites\/39\/2021\/08\/Matrix_NationalReport_Multifamily_1200x628_July_Blog_Image.jpg","width":1200,"height":630,"caption":"National Multifamily Rent Growth Jumps Again in July, Yardi Matrix Reports"},{"@type":"BreadcrumbList","@id":"https:\/\/www.yardimatrix.com\/blog\/national-multifamily-rent-growth-jumps-again-in-july-yardi-matrix-reports\/#breadcrumb","itemListElement":[{"@type":"ListItem","position":1,"name":"Home","item":"https:\/\/www.yardimatrix.com\/blog\/"},{"@type":"ListItem","position":2,"name":"National Multifamily Rent Growth Jumps Again in July, Yardi Matrix Reports"}]},{"@type":"WebSite","@id":"https:\/\/www.yardimatrix.com\/blog\/#website","url":"https:\/\/www.yardimatrix.com\/blog\/","name":"Yardi Matrix Blog","description":"Stay current with the latest commercial real estate market trends and forecasts","publisher":{"@id":"https:\/\/www.yardimatrix.com\/blog\/#organization"},"potentialAction":[{"@type":"SearchAction","target":{"@type":"EntryPoint","urlTemplate":"https:\/\/www.yardimatrix.com\/blog\/?s={search_term_string}"},"query-input":{"@type":"PropertyValueSpecification","valueRequired":true,"valueName":"search_term_string"}}],"inLanguage":"en-US"},{"@type":"Organization","@id":"https:\/\/www.yardimatrix.com\/blog\/#organization","name":"Yardi Matrix","url":"https:\/\/www.yardimatrix.com\/blog\/","logo":{"@type":"ImageObject","inLanguage":"en-US","@id":"https:\/\/www.yardimatrix.com\/blog\/#\/schema\/logo\/image\/","url":"https:\/\/www.yardimatrix.com\/blog\/wp-content\/uploads\/sites\/39\/2020\/11\/Inline_Matrix_Color_es-1.jpg","contentUrl":"https:\/\/www.yardimatrix.com\/blog\/wp-content\/uploads\/sites\/39\/2020\/11\/Inline_Matrix_Color_es-1.jpg","width":200,"height":39,"caption":"Yardi Matrix"},"image":{"@id":"https:\/\/www.yardimatrix.com\/blog\/#\/schema\/logo\/image\/"},"sameAs":["https:\/\/www.linkedin.com\/company\/yardi-matrix\/","https:\/\/www.youtube.com\/channel\/UCRHgAZL4YoyeNEdiRN5uj0g"]},{"@type":"Person","@id":"https:\/\/www.yardimatrix.com\/blog\/#\/schema\/person\/877efe30f5be34ed3f8b5f334c96a8e0","name":"lilianam","image":{"@type":"ImageObject","inLanguage":"en-US","@id":"https:\/\/www.yardimatrix.com\/blog\/#\/schema\/person\/image\/","url":"https:\/\/secure.gravatar.com\/avatar\/45984043e497a4c112cc391ba1c7376592e14880c782c889d4abfed0aeefa8ad?s=96&d=mm&r=g","contentUrl":"https:\/\/secure.gravatar.com\/avatar\/45984043e497a4c112cc391ba1c7376592e14880c782c889d4abfed0aeefa8ad?s=96&d=mm&r=g","caption":"lilianam"},"url":""}]}},"jetpack_featured_media_url":"https:\/\/www.yardimatrix.com\/blog\/wp-content\/uploads\/sites\/39\/2021\/08\/Matrix_NationalReport_Multifamily_1200x628_July_Blog_Image.jpg","jetpack_sharing_enabled":true,"_links":{"self":[{"href":"https:\/\/www.yardimatrix.com\/blog\/wp-json\/wp\/v2\/posts\/1508","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/www.yardimatrix.com\/blog\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.yardimatrix.com\/blog\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.yardimatrix.com\/blog\/wp-json\/wp\/v2\/users\/650"}],"replies":[{"embeddable":true,"href":"https:\/\/www.yardimatrix.com\/blog\/wp-json\/wp\/v2\/comments?post=1508"}],"version-history":[{"count":5,"href":"https:\/\/www.yardimatrix.com\/blog\/wp-json\/wp\/v2\/posts\/1508\/revisions"}],"predecessor-version":[{"id":5610,"href":"https:\/\/www.yardimatrix.com\/blog\/wp-json\/wp\/v2\/posts\/1508\/revisions\/5610"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/www.yardimatrix.com\/blog\/wp-json\/wp\/v2\/media\/1509"}],"wp:attachment":[{"href":"https:\/\/www.yardimatrix.com\/blog\/wp-json\/wp\/v2\/media?parent=1508"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.yardimatrix.com\/blog\/wp-json\/wp\/v2\/categories?post=1508"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.yardimatrix.com\/blog\/wp-json\/wp\/v2\/tags?post=1508"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}