SANTA BARBARA, CA—Although 2016 is a year in which apartment rent growth is widely expected to begin tapering, the first month of this year hasn’t borne out that expectation. Yardi Matrix data show thatthe average national rate reached an all-time high over the past month, climbing $5 to $1,170, following a quarter of seasonally flat rent growth.

On an annual basis, January saw rents increase by 6.4%. “Although we expect rent gains to begin to moderate this year, growth is still surpassing the 2.8% long-term average,” according to Yardi’s latest Matrix Monthly report.

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