Apartments, on average, rented for $1,409, $3 more than in June, and at a record, according to data recently released in a report by Yardi® Matrix. The increase is a 2.8 percent rise year-over-year.
“One could say the market is experiencing typical summer growth, a good sign considering the length of the cycle, which has some worried that the party might be nearing its end,” the report states. “Economic conditions remain favorable for the multifamily industry, especially in secondary markets that are leading the nation in employment growth.”
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