According to the latest Yardi Matrix Multifamily Report, the average U.S. multifamily rent was $1,725 in April, 2024.  Yardi says multifamily rents increased for the second straight month, as the market benefits from robust demand.  Indeed…

“Although rent growth remains moderate, there are plenty of encouraging signs in the data.  Most importantly, demand for apartments continues unabated due to high levels of household formation stemming from the strong job market, large numbers of immigrants and ongoing migration to the South and West.”