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Inflation? War? COVID? None of it can Slow Down the Multifamily Market

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"Yes, inflation is battering the U.S. economy. The country is still dealing with COVID-19. And Russia’s continued attack on Ukraine brings its own set of worries. But despite all this turmoil? The U.S. multifamily market continues to boom. In its April Multifamily National Report, Yardi Matrix said that the average asking apartment rent in the United States rose $15 in April to an all-time high of $1,659. This is an increase of 14.3% from the same month a year ago. In the largest 30 metropolitan areas in the United States, monthly rent growth was up at least 8.8% during the last year in all but one. And this increase in monthly rents was remarkably consistent. Yardi Matrix reported that rent growth was positive in each of these large metropolitan areas during the last one-month, three-month and 12-month periods."

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