Inland Empire rents rise
The average monthly multifamily rent in the United States last month was $1,350, a month-over-month increase of only $1, a report released Thursday stated.
Year-over-year, multifamily rents were up 2.6 percent in July, according to Yardi Matrix, a global commercial real estate research and data firm.
Multifamily rents have gone up every month this year. The Inland Empire experienced a 4.7 percent increase in multifamily rents in July year-over-year, the third-largest increase among 121 major metropolitan markets.
Only Sacramento, at 8.9 percent, and Seattle, at 6 percent, were higher, according to Yardi Matrix.
Rent growths are expected slow during the second half of this year, the report stated.