Apartment rents increase across the country in March

The average multifamily rent in March rose to $1,371 per month in March, according to Yardi Matrix. It’s only a $4 hop from the month before, but it’s the most significant movement since July 2017. Rents have only been fluxuating by about a dollar since then. Experts predict strong rent growth in major U.S. markets in the coming years. “Demand drivers — such as growth of millennial households, downsizing of the baby boomer generation and the healthy job market — remain favorable, while occupancy rates continue to hold above the historical average,” said Yardi’s Paul Fiorilla said, according to Bisnow. [Bisnow]