One question facing the multifamily sector amidst inflation and the Federal Reserve’s push on interest rate increases and quantitative tightening has been where would rents, and therefore NOI and valuations, go. According to new data from CoStar Group’s, the answer is into the slow lane, at least for now.

“Nationally, sequential monthly rents rose $2.50 or 0.15% in February, marking the second month of positive rent growth after a negative streak from August to December of 2022,” Jay Lybik, National Director of Multifamily Analytics at CoStar Group, said in prepared remarks. “However, national year over year rent growth continues to decline with supply additions outstripping mediocre demand, causing instability across the rental market. If we’re able to record a few more months of positive monthly rent growth, year over year rent growth could reverse course, bringing supply and demand closer to equilibrium.”

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?


© 2024 ALM Global, LLC, All Rights Reserved. Request academic re-use from All other uses, submit a request to [email protected]. For more information visit Asset & Logo Licensing.

Erik Sherman


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 © 2024 ALM Global, LLC. All Rights Reserved.