The U.S. multifamily market remains steady, with the average advertised monthly rent for apartments at $1,755 in March, a $5 increase from February. Rents rose 0.4% in the first quarter, with only six of the top 30 metropolitan areas experiencing declines. Notable rent growth occurred in Chicago and Kansas City, both up 3.7% year-over-year. National occupancy rates for multifamily units are stable at 94.5%. The single-family rental market also shows strength, with average rents at $2,169 and occupancy at 94.7%.
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