{"id":1004134276,"date":"2016-01-06T12:06:35","date_gmt":"2016-01-06T20:06:35","guid":{"rendered":"https:\/\/www.commercialsearch.com\/news\/?p=1004134276"},"modified":"2025-02-26T23:50:13","modified_gmt":"2025-02-27T07:50:13","slug":"matrix-monthly-2015-rents-exceed-average","status":"publish","type":"post","link":"https:\/\/www.commercialsearch.com\/news\/matrix-monthly-2015-rents-exceed-average\/","title":{"rendered":"Matrix Monthly: 2015 Rents Exceed Average"},"content":{"rendered":"<p><a href=\"https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2016\/01\/MatrixMonthly_1215_YOY.jpg\"><img loading=\"lazy\" decoding=\"async\" data-attachment-id=\"1004134426\" data-permalink=\"https:\/\/www.commercialsearch.com\/news\/matrix-monthly-2015-rents-exceed-average\/matrixmonthly_1215_yoy\/\" data-orig-file=\"https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2016\/01\/MatrixMonthly_1215_YOY.jpg\" data-orig-size=\"800,600\" data-comments-opened=\"1\" data-image-meta=\"{&quot;aperture&quot;:&quot;0&quot;,&quot;credit&quot;:&quot;&quot;,&quot;camera&quot;:&quot;&quot;,&quot;caption&quot;:&quot;&quot;,&quot;created_timestamp&quot;:&quot;0&quot;,&quot;copyright&quot;:&quot;&quot;,&quot;focal_length&quot;:&quot;0&quot;,&quot;iso&quot;:&quot;0&quot;,&quot;shutter_speed&quot;:&quot;0&quot;,&quot;title&quot;:&quot;&quot;,&quot;orientation&quot;:&quot;0&quot;}\" data-image-title=\"MatrixMonthly_1215_YOY\" data-image-description=\"\" data-image-caption=\"\" data-large-file=\"https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2016\/01\/MatrixMonthly_1215_YOY.jpg?w=800\" class=\"alignright wp-image-1004134426 size-medium\" src=\"https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2016\/01\/MatrixMonthly_1215_YOY.jpg\" alt=\"\" width=\"300\" height=\"225\" srcset=\"https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2016\/01\/MatrixMonthly_1215_YOY.jpg 800w, https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2016\/01\/MatrixMonthly_1215_YOY.jpg?resize=300,225 300w, https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2016\/01\/MatrixMonthly_1215_YOY.jpg?resize=768,576 768w\" sizes=\"auto, (max-width: 300px) 100vw, 300px\" \/><\/a><\/p>\n<p>Santa Barbara, Calif.\u2014Rents rose a notable 6.4 percent in 2015, making this increase the second highest in the last decade and 190 basis points more than 2014, according to Yardi Matrix\u2019s monthly report. The December Matrix Monthly report, released today, covers the past year as well as the trailing three months.<\/p>\n<p>December rents maintained the year\u2019s momentum with an average of $1,165 nationwide, only $1 less than the all-time peak in September and October. However, this slight decline isn\u2019t cause for concern, according to the report, it\u2019s consistent with typical seasonal flattening. As it is, nationwide rent growth is well above the historical average.<\/p>\n<p>The past year&#8217;s demographic trends are expected to continue into the new year as the Millennial generation comes of age while their baby boomer parents scale down from large houses. \u201cThe combination of growth in households of younger adults and the trend of baby boomers renting more will continue to keep demand for rentals strong over the coming year,\u201d said Paul Fiorilla, editorial director of Yardi Matrix.<\/p>\n<p>Metros with thriving business and technology cultures maintained their position at the top of the heap, with the top five cities for rent gains being Portland, Ore., Sacramento, Calif., Seattle, San Francisco and Los Angeles. \u201cDemand is going to stay strong,&#8221; Fiorilla asserted. &#8220;The millennial generation is still aging into the prime renter cohort, so the number of 20 to 34-year olds will continue to increase over the next few years, and we\u2019re anticipating another year where 2-2 \u00bd million jobs are expected, which will help millennials form households.\u201d<\/p>\n<p>While the Western tech markets lead the way in rent growth, some of the Southern markets are gaining in popularity as more employment centers set up shop in areas like Atlanta, Ga., Austin, Texas, Raleigh\/Durham, N.C. and Miami. \u201cWe expect that growth will continue to be focused in the metros that have robust job creation and population growth, the knowledge centers concentrated on the creative industry, and markets that are affordable and have an attractive climate,&#8221; said Fiorilla.<\/p>\n<p>Click <a href=\"https:\/\/www.yardimatrix.com\/Institutional-Research\" rel=\"nofollow noopener\" target=\"_blank\">here<\/a> to view the report.<\/p>\n","protected":false},"excerpt":{"rendered":"<p>The Yardi Matrix Monthly report for December 2015 revealed a year-over-year increase well above the national historic averages.<\/p>\n","protected":false},"author":1269,"featured_media":1004134426,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"_jetpack_memberships_contains_paid_content":false,"footnotes":""},"categories":[37769,23891,21742],"tags":[],"class_list":["post-1004134276","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-rc-absorption","category-national","category-latest"],"acf":[],"yoast_head":"<!-- This site is optimized with the Yoast SEO Premium plugin v28.0 (Yoast SEO v28.0) - 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