In April, the multifamily sector showed strong performance with its second consecutive month of rent increases. The average asking rent in the U.S. rose by $6 to $1,725, maintaining a 0.7% year-over-year growth rate. Single-family rentals hit a record high of $2,154. Occupancy rates held steady at 94.5%, with declines in Atlanta, Houston, Las Vegas, and Austin. The Northeast and Midwest led rent growth, with New York City (4.6%) and Columbus (3.8%) seeing significant increases, while Austin (-6.5%) and Atlanta (-3.4%) saw declines. Short-term rents increased by 0.3% in both the Renter-by-Necessity and Luxury Lifestyle categories. Q1 2024 saw the absorption of 72,800 units, led by the Southwest. Single-family build-to-rent financing rose to $1.9 billion in Q1, indicating strong investor confidence. The market shows sustained demand and growth potential despite challenges, particularly in the Northeast and Midwest.