Now is the time to make an investment in multifamily real estate according to a recent uptrend in rent reported by Yardi Matrix. According to the survey conducted of over 127 markets, Yardi calculated that rent rose to an average of $1,409 per month, that’s a $3 increase.
While some of the uptick can be attributed to typical summer growth, these favorable economic conditions, especially in multi-family properties, relay the message that continued steady growth within the market is to be expected.
“These rental numbers are reassuring for our industry,” said Caroline Kane, CEO of Property Management, “It instills ongoing confidence with investors/owners and shows that the industry is largely poised for growth not only in Texas but nationwide.”
For more information on this latest report and to learn how to take advantage of the opportunities within the Texas multi-family property market, contact CKR Property Management today!