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Skyline of Houston, TX Houston rent growth turned positive in October, for the first time since July 2016.

SANTA BARBARA, CA—US multifamily rents declined an average of $4 in October to $1,358 per month, according to Yardi Matrix’s latest monthly survey of 121 markets. Year-over-year rent growth continued to decelerate, with October’s 2.3% nationwide improvement off 30 basis points from September’s annual increase, and trailing three-month growth turned negative. That being the case, there were some clear winners among individual markets, including Houston in the aftermath of Hurricane Harvey.

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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