2025 Rent Growth
Yardi Matrix’s latest report on this key market indicator.
The U.S. multifamily market maintained a steady performance in May, according to Yardi Matrix’s latest survey of 140 markets. The average advertised asking rent gained $6 to $1,761, maintaining growth at 1 percent year-over-year. Varying degrees of positive movement sprang from weak-performing markets, including Denver, San Francisco, Dallas and Austin.
The national occupancy rate fell by 30 basis points year-over-year to 94.4 percent in April, the lowest level since 2013. Meanwhile, the average advertised asking rent in the single-family build-to-rent sector rose by $3 to $2,183 in May, down by 0.1 percent year-over-year.
—Posted on June 18, 2025
The U.S. multifamily market continued to exhibit moderate growth at the start of the second quarter of 2025, according to Yardi Matrix’s latest survey of 140 markets, sustained by a combination of a robust labor market and a weak home sales market. The average advertised asking rent increased by $5 to $1,736 in April, for a 0.9 percent year-over-year growth. The national occupancy rate in stabilized properties slid to 94.4 percent in March, the lowest level in more than a decade. Meanwhile, the single-family build-to-rent advertised asking rates rose $5 to $2,178 in April, and the occupancy rate fell 0.6 percent year-over-year to 94.8 percent in March.
—Posted on May 29, 2025
The U.S. multifamily market ended the first quarter of 2025 on a steady trend, according to Yardi Matrix’s latest survey of 140 markets. The average advertised asking rent gained $5 in March to $1,755, up 1.0 percent year-over-year and 0.4 percent over the first quarter. The national occupancy rate remained at 94.5 percent for the third straight month. Single-family build-to-rent rates also rose by $5 to $2,169, and occupancy remained unchanged year-over-year, at 94.7 percent in February.
Rent growth was strongest in New York City (5.5 percent), Chicago and Kansas City (both 3.7 percent), Columbus (3.5 percent) and Philadelphia (3.2 percent). The weakest rent performance was posted by Austin (-5.4 percent), Denver (-3.6 percent) and Phoenix (-3.0 percent), each with supply growth higher than 5.0 percent of existing stock over the past year. Occupancy increased in eight of Yardi Matrix’s top 30 metros, led by San Francisco and Las Vegas (both 0.3 percent) and Los Angeles (0.2 percent).
—Posted on April 28, 2025
At the tail end of the winter season, and with economic uncertainty on the rise, the U.S. multifamily market maintained a steady performance, according to Yardi Matrix’s latest survey of 140 markets. The average U.S. advertised asking rent gained $1 in February, to reach $1,751, marking a 1.2 percent year-over-year increase.
The average U.S. occupancy rate remained consistent at 94.5 percent in February, with records of negative performance in many high-supply markets. Single-family build-to-rent advertised asking rents stayed unchanged at $2,165, up 0.2 percent year-over-year. SFR occupancy held at 94.7 percent in February.
—Posted on March 25, 2025
The U.S. multifamily market showed good stamina at the start of 2025, breaking a six-month negative streak for rents, according to Yardi Matrix’s latest survey of 140 markets. The average U.S. advertised asking rent increased $3 to $1,746 in January, up 20 basis points to 0.8 percent year-over-year. Yet, supply growth led to a 0.1 percent decline in the national occupancy rate to 94.5 percent in January, the lowest level recorded since 2014.
Prospects are positive but not without volatility from the economy and policy uncertainty. Meanwhile, the single-family build-to-rent rental market also reported gains in the average rental rate after several months of declines and rose $5 to $2,157 in January.
—Posted on February 26, 2025
