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Apartment Rent Growth Projections for the Next Five Years

It is poised to rise significantly from May’s 0.6% decline.

By Philippa Maister | July 24, 2023 at 08:40 AM

May 2023 saw U.S. year-over-year multifamily rent growth turn negative for the first time since the Global Financial Crisis of 2007-2008. The decline was -0.6%. 

However, the data analytics firm Markerr’s outlook for the next five years was much more positive. It predicted that the top 100 markets in the USA will see a 3.9% increase in rent through 2024, and a 5% jump the year after, followed by more normal 3% to 1.5% growth in years three to five.

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