The US multifamily sector saw average asking rents rise by $15 in April to hit an all-time high of $1,659, leading analysts at Yardi Matrix to say the asset class is in a “can’t stop, won’t stop” phase of historic growth.

The firm’s latest multifamily data shows that year-over-year rent growth moderated by 50 basis points in April but is still high at 14.3%.  Rent growth was positive in all 30 metros Yardi tracks in the report over the last month, three month, and 12-month periods, with markets in Florida and the Southwest nabbing the top spots year-over-year.  Boston, New York, San Jose, and Philadelphia have been among the top performers as of late.

Want to continue reading?
Become a Free ALM Digital Reader.

Once you are an ALM digital member, you’ll receive:

  • Unlimited access to GlobeSt and other free ALM publications
  • Access to 15 years of GlobeSt archives
  • Your choice of GlobeSt digital newsletters and over 70 others from popular sister publications
  • 1 free article* every 30 days across the ALM subscription network
  • Exclusive discounts on ALM events and publications

*May exclude premium content
Already have an account?


GlobeSt. Multifamily Fall 2023Event

Join the industry's top owners, investors, developers, brokers & financiers at THE MULTIFAMILY EVENT OF THE YEAR!

Get More Information


Join GlobeSt

Don't miss crucial news and insights you need to make informed commercial real estate decisions. Join now!

  • Free unlimited access to's trusted and independent team of experts who provide commercial real estate owners, investors, developers, brokers and finance professionals with comprehensive coverage, analysis and best practices necessary to innovate and build business.
  • Exclusive discounts on ALM and GlobeSt events.
  • Access to other award-winning ALM websites including and

Already have an account? Sign In Now
Join GlobeSt

Copyright © 2023 ALM Global, LLC. All Rights Reserved.