In the U.S. multifamily rental rates are experiencing record growth. From August 2020 to August 2021 rental rates increased by 10.3%, a new record for year-over-year growth. The rental growth we’re now experiencing is tied to an increased savings rate, more jobs, and people moving back into urban cores near or in central business districts. Occupancy rates are slightly up as well increasing by about 1 percent from a year ago.