X

Thank you for sharing!

Your article was successfully shared with the contacts you provided.
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.

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?

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.

More from this author

 

GlobeSt

Join GlobeSt

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

  • Free unlimited access to GlobeSt.com'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 ThinkAdvisor.com and Law.com.

Already have an account? Sign In Now
Join GlobeSt

Copyright © 2021 ALM Media Properties, LLC. All Rights Reserved.