{"id":5805,"date":"2023-03-23T12:53:52","date_gmt":"2023-03-23T12:53:52","guid":{"rendered":"https:\/\/www.yardimatrix.com\/blog\/?p=5805"},"modified":"2023-09-12T18:52:31","modified_gmt":"2023-09-12T18:52:31","slug":"national-multifamily-market-report-february-2023","status":"publish","type":"post","link":"https:\/\/www.yardimatrix.com\/blog\/national-multifamily-market-report-february-2023\/","title":{"rendered":"National Multifamily Market Report \u2013 February 2023"},"content":{"rendered":"

The average U.S. asking rent continued to soften, rising 4.8% year-over-year, keeping the rate unchanged from January<\/strong><\/a>, at $1,702.<\/em><\/p>\n

Report highlights:<\/h2>\n
    \n
  • The average U.S. multifamily rent was flat at $1,702 in February, up 4.8% year-over-year; Occupancy remained above 95%.<\/li>\n
  • Household growth and deliveries of new stock are key rent drivers.<\/li>\n
  • Lifestyle rents decreased 0.2%, Renter-by-Necessity rates rose 0.2% in February.<\/li>\n
  • SFR rents remained flat at $2,071, up 3.4% year-over-year.<\/li>\n<\/ul>\n

    U.S. multifamily rent growth continued to decelerate, up just 4.8% year-over-year in February, a 70-basis-point decline from the previous month. Although the rate marks the lowest level in nearly two years, the average asking rent remained flat for the second consecutive month, at $1,702. The weak performance is not yet cause for concern as we\u2019re still in the winter seasonal slowdown, but all eyes are on the arrival of spring.<\/p>\n