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Portland, OR skyline Portland, OR was among May’s top five fastest growing markets for apartment rent growth. All five were on the West Coast.

SANTA BARBARA, CA—Call apartment rent growth the Energizer Bunny of commercial real estate. The average monthly rent notched up by $10 nationwide in May to another all-time high of $1,204, Yardi Matrix reports in its latest monthly survey of 119 markets. “Clearly, rent growth deceleration hasn’t happened yet,” according to the Yardi Matrix report, although warnings of such deceleration have persisted for months.

Rents rose by an average of 0.9% in May and were up 6.0% from a year ago, in line with the trends reported for April. In terms of leasing, Yardi Matrix says occupancy was 96.0% in April, down 10 basis points from March but up by a percentage point from a year ago. Occupancy has been at least 95% for the past two years.

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Paul Bubny

Paul Bubny is managing editor of Real Estate Forum and GlobeSt.com. He has been reporting on business since 1988 and on commercial real estate since 2007. He is based at ALM Real Estate Media Group's offices in New York City.

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