According to the latest Yardi Matrix Multifamily Report, the average U.S. multifamily rents were down 0.2% year-over-year in January. However, overall rents increased in January by $3 to $1,392. Yardi says bright spots are beginning to emerge.
“As we enter 2021, there seems to be a light at the end of the tunnel, as it relates to the economy and housing market. The U.S. is continuing the effort to roll out COVID-19 vaccinations nationwide, the number of workers that filed for unemployment declined for the week ending Jan. 23, and consumer spending held up well in December.”