Miami rent growth keeps strong pace in August

  • U.S. rents were up 5 percent annually in August, slowing from the 6-plus percent increases reported for the majority of the year.
  • Miami's annual rent growth hit 4.6 percent in August and is forecasted to reach 6.2 percent by the end of the year.
  • Miami's new completions are forecasted to total 13,423 by the end of the year, making completions 5 percent of the total stock.

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The Yardi Matrix U.S. Multifamily Outlook for fall 2016 found that national rent growth has continued but slowed, while a couple bursts of job growth has helped propel the market forward.