Yardi Says Rents Rising Modestly as Rate Hikes Take Center Stage
According to the latest Yardi Matrix Multifamily Report, the average U.S. multifamily rents were $ 1,727 in October, up $ 3 from September. Yardi says The Fed’s recent actions have roiled the housing market, which is sure to impact multifamily demand, property values and investment strategies. Indeed…
“…much of the attention in the industry has been taken over by the rapid growth in interest rates and the impact on demand and property values. The Federal Reserve last week increased short-term borrowing rates another 75 basis points, bringing the target range from 3.75% to 4%, the highest level since 2008. Just as important, Fed Chair Jerome Powell indicated that rates will keep increasing.”
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