MULTIFAMILY EXECUTIVEL (March 22, 2018) – Although the pace is slowing, apartment rental rates have been growing nationally for eight consecutive years, a new report from RealPage shows. And overall this cycle, which began in 2010, U.S. apartment rates have grown 28.5%.
On an individual basis, markets on the West Coast have led the way in terms of rent growth, including six of the top 10 leaders since 2010.
Of the 50 largest U.S. apartment markets, the three Bay Area (California) metros were the national leaders for rent growth during the current cycle, according to RealPage. San Jose led the pack, logging rent growth of 52.4% since 2010. Operators in Oakland pushed rents 51.1%, while San Francisco rents were up 48.6% for the current cycle.
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