At mid-year 2019, the multifamily market is continuing its strong fundamental performance with prospects for the next few years remaining bullish. Rent growth has stabilized at just over 3%, and we expect a 2.6% increase for the full year—the seventh straight year above the 2.5% long-term average.
Rent growth is led by metros in the Southwest and South with fast-growing economies and relatively affordable housing, but strong gains are being recorded in most metros across the
country. The healthy economy and employment market, along with demographic and social factors, are creating healthy demand for apartments.