{"id":7805,"date":"2024-09-04T13:54:39","date_gmt":"2024-09-04T13:54:39","guid":{"rendered":"https:\/\/www.yardimatrix.com\/blog\/?p=7805"},"modified":"2024-09-30T13:58:31","modified_gmt":"2024-09-30T13:58:31","slug":"run-of-rent-gains-ends-in-august-reports-yardi-matrix","status":"publish","type":"post","link":"https:\/\/www.yardimatrix.com\/blog\/run-of-rent-gains-ends-in-august-reports-yardi-matrix\/","title":{"rendered":"Run of Rent Gains Ends in August, Reports Yardi Matrix"},"content":{"rendered":"

Following six consecutive months of gains, national advertised asking rents slide<\/em><\/p>\n

SANTA BARBARA, Calif., September 04, 2024<\/strong> \u2013 The slowing economy, seasonality and high volumes of deliveries dampened advertised asking rent growth in August, according to the latest Yardi\u00ae Matrix National Multifamily Report<\/a>.<\/p>\n

Following six months of steady growth, the average U.S. advertised asking rent fell $1 in August to $1,741, with the year-over-year (YoY) growth rate unchanged at 0.8 percent. Occupancy remained flat at 94.7 percent in July, down 0.3 percent YoY.<\/p>\n

Gateway markets in the East and secondary markets in the Midwest remained leaders in rent growth, led by New York City (4.8 percent YoY), Kansas City (4.1 percent) and Washington, D.C. (3.4 percent). Rent declines were highest in Austin (-5.5 percent), Raleigh (-3.4 percent) and Phoenix (-2.9 percent).<\/p>\n

Single family rental (SFR) advertised asking rents fell $7 in August to $2,164, while YoY gains dropped 40 basis points to 0.7 percent. Overall, SFR advertised asking rents gained $14 year-to-date and $513, or 31 percent, since March 2020.<\/p>\n

Gain more insight in the new\u00a0Yardi Matrix National Multifamily Report<\/a>.<\/p>\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, affordable housing, student housing, vacant land, industrial, office, retail and self storage property types. Email\u00a0matrix@yardi.com<\/a>, call 480-663-1149 or visit\u00a0yardimatrix.com<\/a>\u00a0to learn more.<\/p>\n

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

Celebrating its 40-year anniversary in 2024, Yardi\u00ae develops industry-leading software for all types and sizes of real estate companies across the world. With over 9,500 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\u00a0yardi.com<\/a>.<\/p>\n","protected":false},"excerpt":{"rendered":"

Following six consecutive months of gains, national advertised asking rents slide SANTA BARBARA, Calif., September 04, 2024 \u2013 The slowing economy, seasonality and high volumes of deliveries dampened advertised asking rent growth in August, according to the latest Yardi\u00ae Matrix National Multifamily Report. Following six months of steady growth, the average U.S. advertised asking rent […]<\/p>\n","protected":false},"author":753,"featured_media":7806,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_jetpack_memberships_contains_paid_content":false,"footnotes":""},"categories":[28,29],"tags":[511,388],"class_list":["post-7805","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-news","category-press-releases","tag-multifamily-outlook-2024","tag-single-family-rental-sector"],"yoast_head":"\nRun of Rent Gains Ends in August, Reports Yardi Matrix - Yardi Matrix Blog<\/title>\n<meta name=\"description\" content=\"Following six consecutive months of gains, national advertised asking rents slide, according to Yardi Matrix data.\" \/>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" 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