Market Insight | U.S. Multifamily

U.S. apartment rents edged higher in January, signaling early stabilization after a soft second half of 2025.

🔹 National average rent: $1,713

 🔹 MoM: +0.2%

 🔹 YoY: +0.6%

Regional highlights:

 • Midwest leads rent growth (+0.27% MoM, +2.1% YoY)

 • Northeast followed with modest gains

 • South and West remain pressured by elevated supply

Market takeaways:

 • 42 of the top 50 U.S. multifamily markets posted rent increases

 • Supply-constrained markets continue to outperform

 • High-construction metros (Austin, Phoenix, Denver) remain in absorption mode

📌 Big picture:

 While new deliveries continue to weigh on select markets, improving monthly rent trends point toward a gradual normalization as 2026 unfolds.

Source: CoStar Analytics | February 2026