Apartment Industry Record Rent Growth Expected

According to a report from Dallas-based apartment research firm Axiometrics, effective rents grew 4.65 percent for the year ending February 2011, the largest such gain since the firm began tracking rent fundamentals in 1996.  Both Axiometrics and Carrollton, Texas-based RealPage’s MPF Research division, noted the largest rent increases in terms of effective rent growth include San Jose, Calif. (Axiometrics: 10.51 percent; MPF: 7.8 percent); Portland, Ore. (Axiometrics: 10.43 percent; MPF: 5.7 percent).
Read the full story in the Multifamily Executive.