Industry News

Residential real estate rental rates remain steady

Slow or no growth in multifamily rent, according to quarterly report
Published on Jul 21, 2005

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by CareyBot

Owners of apartment properties in the Western U.S. experienced little or no growth in income over the past year, according to a study by RealFacts, a research and database organization that focuses on the multifamily housing market.

Average rent growth in the past year was 2.1 percent, RealFacts reported. In the second quarter of 2005 the average apartment rented for $895, a gain of 0.6 percent since March.

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