Rent Growth May 14 23

Rent Growth Trending Positive, Inflation Persists

New rent growth data⁠ cements a robust positive trend for multifamily performance, with four consecutive months of increasing monthly rent growth and forecasts that ⁠Q2 rent growth could exceed⁠ pre-pandemic averages if current trends continue. On the other hand, the rent growth measured in the ⁠Consumer Price Index⁠, (0.6% month-over-month and 8.8% year-over-year), continues to misrepresent the current state of the market and are a large part of the high year-over-year inflation number (4.9%) and the elevated monthly inflation (0.4%, up from 0.1% the previous month).