Multifamily rents are up locally, nationally

The U.S. multifamily market improved slightly in March.

Average monthly rents rose $6 during that time to $1,312, according to data released by Yardi Matrix in Santa Barbara.

That data, based on a survey of 121 major metropolitan markets, found that rents were 2.7 percent higher nationwide in March than they were one year earlier.

In the Inland Empire, multifamily rents were up 6.5 percent year-over-year in March. Sacramento registered highest increase – 9.4 percent – during that time.

Yardi Matrix develops and supports property management software for real estate companies throughout the word, according to a statement.