Long Island rent moderately growing, but NYC area trends vary

  • U.S. rents were up 5 percent annually in August, slowing from the 6-plus percent increases reported for the majority of the year.
  • Central New Jersey saw 0.6 percent of its inventory consist of new completions in August, while 4.4 percent of new completions made up the total housing stock in Northern New Jersey.
  • Long Island's annual rent growth was reported at 3.7 percent in August and is forecasted to hit 3.8 percent by the end of the year.

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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.