Apartment rents up

Average monthly apartment rental rates throughout the country rose by $5 in January, their first gain in five month, according to data released Friday.

Rents finished the month at an average of $1,315 nationwide, with most of the rent gains in high-population growth areas, including the Inland Empire, Yardi Matrix reported.

Fourteen of the 15 regions that topped the national average were in the west or the south. The U.S. apartment market is expected to remain strong throughout the rest of this year, the report stated.

Yardi Matrix is based in Santa Barbara. It develops and supports investment and property management software for real estate companies.