{"id":5778,"date":"2023-04-10T12:15:31","date_gmt":"2023-04-10T12:15:31","guid":{"rendered":"https:\/\/www.yardimatrix.com\/blog\/?p=5778"},"modified":"2023-09-12T17:17:46","modified_gmt":"2023-09-12T17:17:46","slug":"us-multifamily-rents-rise-in-march","status":"publish","type":"post","link":"https:\/\/www.yardimatrix.com\/blog\/us-multifamily-rents-rise-in-march\/","title":{"rendered":"U.S. Multifamily Rents Rise in March, Yardi Matrix Reports"},"content":{"rendered":"

With demand steady, apartment asking rents averaged $1,706 last month<\/em><\/p>\n

\u00a0<\/strong>SANTA BARBARA, Calif., April 10, 2023<\/strong> \u2013 Multifamily asking rents rose slightly last month as demand stayed strong despite economic challenges, according to the new National Multifamily Report<\/a> from Yardi\u00ae Matrix.<\/p>\n

The average U.S. asking rent rose $3 in March to $1,706. Year-over-year growth fell to four percent nationally, 90 basis points less than February and the lowest level since rents started an unprecedented climb in April 2021.<\/p>\n

Single-family rental rates increased in March by $5 to $2,079, while the year-over-year increase fell by 80 basis points to 2.8 percent.<\/p>\n

\u201cThe first quarter produced no gains for multifamily rents for the first time in a decade, but the results come as somewhat of a relief,\u201d say Matrix experts. \u201cMultifamily demand held up well despite the attention given to the Federal Reserve-induced economic slowdown, bank failures and the deceleration from the outsize rent gains of the last two years. Rents and occupancy are stable as the market heads into the growth season.\u201d<\/p>\n

Rents and the national occupancy rate were unchanged during the first quarter of 2023, and 21 of the top 30 Matrix metros recorded rent gains in March.<\/p>\n

Gain more insights by downloading March\u2019s Multifamily Report<\/a>.<\/p>\n

Yardi\u00a0Matrix 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

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

Yardi\u00ae develops industry-leading software for all types and sizes of real estate companies across the world. With over 8,500 employees, Yardi is working with our clients to drive significant innovation in the real estate industry. For more information on how Yardi is Energized for Tomorrow, visit yardi.com<\/a>.<\/p>\n\n\n

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

With demand steady, apartment asking rents averaged $1,706 last month \u00a0SANTA BARBARA, Calif., April 10, 2023 \u2013 Multifamily asking rents rose slightly last month as demand stayed strong despite economic challenges, according to the new National Multifamily Report from Yardi\u00ae Matrix. The average U.S. asking rent rose $3 in March to $1,706. Year-over-year growth fell […]<\/p>\n","protected":false},"author":753,"featured_media":5779,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_jetpack_memberships_contains_paid_content":false,"footnotes":""},"categories":[28,29],"tags":[475],"class_list":["post-5778","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-news","category-press-releases","tag-multifamily-outlook-2023"],"yoast_head":"\nU.S. Multifamily Rents Rise in March, Yardi Matrix Reports - Yardi Matrix Blog<\/title>\n<meta name=\"description\" content=\"With demand steady, apartment asking rents averaged $1,706 last month, according to the latest National Multifamily Report from Yardi Matrix.\" \/>\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\/us-multifamily-rents-rise-in-march\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"U.S. Multifamily Rents Rise in March, Yardi Matrix Reports\" \/>\n<meta property=\"og:description\" content=\"With demand steady, apartment asking rents averaged $1,706 last month, according to the latest National Multifamily Report from Yardi Matrix.\" \/>\n<meta property=\"og:url\" content=\"https:\/\/www.yardimatrix.com\/blog\/us-multifamily-rents-rise-in-march\/\" \/>\n<meta property=\"og:site_name\" content=\"Yardi Matrix Blog\" \/>\n<meta property=\"article:published_time\" content=\"2023-04-10T12:15:31+00:00\" \/>\n<meta property=\"article:modified_time\" content=\"2023-09-12T17:17:46+00:00\" \/>\n<meta property=\"og:image\" content=\"https:\/\/www.yardimatrix.com\/blog\/wp-content\/uploads\/sites\/39\/2023\/04\/Matrix_Blog_NationalReport_Multifamily_March_2023.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=\"Razvan Cimpean\" \/>\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":"U.S. Multifamily Rents Rise in March, Yardi Matrix Reports - Yardi Matrix Blog","description":"With demand steady, apartment asking rents averaged $1,706 last month, according to the latest National Multifamily Report from Yardi Matrix.","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\/us-multifamily-rents-rise-in-march\/","og_locale":"en_US","og_type":"article","og_title":"U.S. Multifamily Rents Rise in March, Yardi Matrix Reports","og_description":"With demand steady, apartment asking rents averaged $1,706 last month, according to the latest National Multifamily Report from Yardi Matrix.","og_url":"https:\/\/www.yardimatrix.com\/blog\/us-multifamily-rents-rise-in-march\/","og_site_name":"Yardi Matrix Blog","article_published_time":"2023-04-10T12:15:31+00:00","article_modified_time":"2023-09-12T17:17:46+00:00","og_image":[{"width":1200,"height":630,"url":"https:\/\/www.yardimatrix.com\/blog\/wp-content\/uploads\/sites\/39\/2023\/04\/Matrix_Blog_NationalReport_Multifamily_March_2023.jpg","type":"image\/jpeg"}],"author":"Razvan Cimpean","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\/us-multifamily-rents-rise-in-march\/#article","isPartOf":{"@id":"https:\/\/www.yardimatrix.com\/blog\/us-multifamily-rents-rise-in-march\/"},"author":{"name":"Razvan Cimpean","@id":"https:\/\/www.yardimatrix.com\/blog\/#\/schema\/person\/694c0c0a53e89aa8de1e53ff8201b3b6"},"headline":"U.S. Multifamily Rents Rise in March, Yardi Matrix Reports","datePublished":"2023-04-10T12:15:31+00:00","dateModified":"2023-09-12T17:17:46+00:00","mainEntityOfPage":{"@id":"https:\/\/www.yardimatrix.com\/blog\/us-multifamily-rents-rise-in-march\/"},"wordCount":307,"commentCount":0,"publisher":{"@id":"https:\/\/www.yardimatrix.com\/blog\/#organization"},"image":{"@id":"https:\/\/www.yardimatrix.com\/blog\/us-multifamily-rents-rise-in-march\/#primaryimage"},"thumbnailUrl":"https:\/\/www.yardimatrix.com\/blog\/wp-content\/uploads\/sites\/39\/2023\/04\/Matrix_Blog_NationalReport_Multifamily_March_2023.jpg","keywords":["Multifamily Outlook 2023"],"articleSection":["News","Press Releases"],"inLanguage":"en-US","potentialAction":[{"@type":"CommentAction","name":"Comment","target":["https:\/\/www.yardimatrix.com\/blog\/us-multifamily-rents-rise-in-march\/#respond"]}]},{"@type":"WebPage","@id":"https:\/\/www.yardimatrix.com\/blog\/us-multifamily-rents-rise-in-march\/","url":"https:\/\/www.yardimatrix.com\/blog\/us-multifamily-rents-rise-in-march\/","name":"U.S. Multifamily Rents Rise in March, Yardi Matrix Reports - Yardi Matrix Blog","isPartOf":{"@id":"https:\/\/www.yardimatrix.com\/blog\/#website"},"primaryImageOfPage":{"@id":"https:\/\/www.yardimatrix.com\/blog\/us-multifamily-rents-rise-in-march\/#primaryimage"},"image":{"@id":"https:\/\/www.yardimatrix.com\/blog\/us-multifamily-rents-rise-in-march\/#primaryimage"},"thumbnailUrl":"https:\/\/www.yardimatrix.com\/blog\/wp-content\/uploads\/sites\/39\/2023\/04\/Matrix_Blog_NationalReport_Multifamily_March_2023.jpg","datePublished":"2023-04-10T12:15:31+00:00","dateModified":"2023-09-12T17:17:46+00:00","description":"With demand steady, apartment asking rents averaged $1,706 last month, according to the latest National Multifamily Report from Yardi Matrix.","breadcrumb":{"@id":"https:\/\/www.yardimatrix.com\/blog\/us-multifamily-rents-rise-in-march\/#breadcrumb"},"inLanguage":"en-US","potentialAction":[{"@type":"ReadAction","target":["https:\/\/www.yardimatrix.com\/blog\/us-multifamily-rents-rise-in-march\/"]}]},{"@type":"ImageObject","inLanguage":"en-US","@id":"https:\/\/www.yardimatrix.com\/blog\/us-multifamily-rents-rise-in-march\/#primaryimage","url":"https:\/\/www.yardimatrix.com\/blog\/wp-content\/uploads\/sites\/39\/2023\/04\/Matrix_Blog_NationalReport_Multifamily_March_2023.jpg","contentUrl":"https:\/\/www.yardimatrix.com\/blog\/wp-content\/uploads\/sites\/39\/2023\/04\/Matrix_Blog_NationalReport_Multifamily_March_2023.jpg","width":1200,"height":630},{"@type":"BreadcrumbList","@id":"https:\/\/www.yardimatrix.com\/blog\/us-multifamily-rents-rise-in-march\/#breadcrumb","itemListElement":[{"@type":"ListItem","position":1,"name":"Home","item":"https:\/\/www.yardimatrix.com\/blog\/"},{"@type":"ListItem","position":2,"name":"U.S. Multifamily Rents Rise in March, 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\/694c0c0a53e89aa8de1e53ff8201b3b6","name":"Razvan Cimpean","image":{"@type":"ImageObject","inLanguage":"en-US","@id":"https:\/\/www.yardimatrix.com\/blog\/#\/schema\/person\/image\/","url":"https:\/\/secure.gravatar.com\/avatar\/a2a826ff843b4f800ff5528644dc28dc336a20ec16082b6108ff5a5def333e6d?s=96&d=mm&r=g","contentUrl":"https:\/\/secure.gravatar.com\/avatar\/a2a826ff843b4f800ff5528644dc28dc336a20ec16082b6108ff5a5def333e6d?s=96&d=mm&r=g","caption":"Razvan Cimpean"},"url":""}]}},"jetpack_featured_media_url":"https:\/\/www.yardimatrix.com\/blog\/wp-content\/uploads\/sites\/39\/2023\/04\/Matrix_Blog_NationalReport_Multifamily_March_2023.jpg","jetpack_sharing_enabled":true,"_links":{"self":[{"href":"https:\/\/www.yardimatrix.com\/blog\/wp-json\/wp\/v2\/posts\/5778","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\/753"}],"replies":[{"embeddable":true,"href":"https:\/\/www.yardimatrix.com\/blog\/wp-json\/wp\/v2\/comments?post=5778"}],"version-history":[{"count":1,"href":"https:\/\/www.yardimatrix.com\/blog\/wp-json\/wp\/v2\/posts\/5778\/revisions"}],"predecessor-version":[{"id":5780,"href":"https:\/\/www.yardimatrix.com\/blog\/wp-json\/wp\/v2\/posts\/5778\/revisions\/5780"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/www.yardimatrix.com\/blog\/wp-json\/wp\/v2\/media\/5779"}],"wp:attachment":[{"href":"https:\/\/www.yardimatrix.com\/blog\/wp-json\/wp\/v2\/media?parent=5778"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.yardimatrix.com\/blog\/wp-json\/wp\/v2\/categories?post=5778"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.yardimatrix.com\/blog\/wp-json\/wp\/v2\/tags?post=5778"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}