If business strategy has included depending on rent rate increases in multifamily, then the Apartment List National Rent Report for February 2022 is something to consider for a potential corrective course.
Year-over-year, apartment growth has been a record, according to the firm, standing at 17.8%. However, the bulk of that occurred earlier in 2021. Over the past four months, rents grew by a collective total of 0.9%. Month-over-month growth in the period was about 0.2%.
Last year, multifamily looked hot. After understandable fears, even in 2020 the sector didn't collapse from evictions and collections were strong. But by 2021, fundamentals were back and multifamily became the industry's second darling, after white-hot industrial. Some experts said that apartment rent growth was sustainable over the long term.
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