SANTA BARBARA – According to Yardi Matrix’s commercial real estate data, nine of 30 U.S. markets have experienced double-digit growth in year-over-year multifamily rent.
Of Texas' major metros, Austin had the highest apartment rent increase at 8.9 percent. Dallas and Houston's apartment rents grew 7.3 and 4.7 percent, respectively.
Non-leased apartment asking rent grew 6.3 percent from June 2020 to June 2021. The national average apartment rent in June was a record $1,482.
Single-family rental units grew the fastest at 11.1 percent year-over-year growth.
Read the Texas Real Estate Research Center's latest Texas Quarterly Apartment Report for more.
Source: Houston Business Journal
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