{"id":9160,"date":"2025-07-18T11:02:00","date_gmt":"2025-07-18T11:02:00","guid":{"rendered":"https:\/\/www.yardimatrix.com\/blog\/?p=9160"},"modified":"2025-08-11T12:17:51","modified_gmt":"2025-08-11T12:17:51","slug":"national-multifamily-market-report-june-2025","status":"publish","type":"post","link":"https:\/\/www.yardimatrix.com\/blog\/national-multifamily-market-report-june-2025\/","title":{"rendered":"National Multifamily Market Report &#8211; June 2025"},"content":{"rendered":"\n<p class=\"has-normal-font-size\">Read the latest Yardi Matrix <strong><a href=\"\/blog\/national-multifamily-market-report\/\">National Multifamily Market Report<\/a><\/strong>.<\/p>\n\n\n\n<hr class=\"wp-block-separator has-alpha-channel-opacity is-style-wide\"\/>\n\n\n\n<p><em>During the first half of the year, rent grew at half the rate of pre-pandemic cycles, according to Yardi Matrix data<\/em><\/p>\n\n\n\n<h2 class=\"wp-block-heading\" id=\"h-report-highlights\">Report highlights:<\/h2>\n\n\n\n<ul class=\"wp-block-list\">\n<li>The average U.S. advertised asking rent increased $3 to $1,749 in June, up 0.9% year-over-year.<\/li>\n\n\n\n<li>Short-term, rent grew 0.2% month-over-month, with gateway and tech hub markets leading the way.<\/li>\n\n\n\n<li>Half of renters spend more than 30% of their income on housing and utilities, with 27% of renters spending upward of 50%.<\/li>\n\n\n\n<li>SFR-BTR average advertised asking rent climbed for the first time past the $2,200 mark in June.<\/li>\n<\/ul>\n\n\n\n<h2 class=\"wp-block-heading\" id=\"h-past-2025-s-midway-point-the-multifamily-market-remains-steady-with-room-for-improvement\">Past 2025\u2019s midway point, the multifamily market remains steady with room for improvement<\/h2>\n\n\n\n<p>The average U.S. advertised asking rent rose $3 to $1,749 in June, while increasing 0.9% year-over-year. Meanwhile, the figure also grew 1.2% during the first half of 2025, below the average pre-pandemic growth rate of 2.4%. Midwestern markets recorded the strongest rental improvement with Chicago (3.6%) leading the way, followed by Columbus (3.3%) and Kansas City (3.2%). Markets burdened by delivery gluts posted negative rent growth, including Austin (-4.7%), Denver (-3.9%), Phoenix (-2.6%) and Orlando (-1.2%).<\/p>\n\n\n\n<p><iframe title=\"Top 10 Markets for YoY Rent Growth\" aria-label=\"Table\" id=\"datawrapper-chart-OsLsA\" src=\"https:\/\/datawrapper.dwcdn.net\/OsLsA\/1\/\" scrolling=\"no\" frameborder=\"0\" style=\"width: 0; min-width: 100% !important; border: none;\" height=\"516\" data-external=\"1\"><\/iframe><script type=\"text\/javascript\">!function(){\"use strict\";window.addEventListener(\"message\",function(a){if(void 0!==a.data[\"datawrapper-height\"]){var e=document.querySelectorAll(\"iframe\");for(var t in a.data[\"datawrapper-height\"])for(var r,i=0;r=e[i];i++)if(r.contentWindow===a.source){var d=a.data[\"datawrapper-height\"][t]+\"px\";r.style.height=d}}})}();\n<\/script><\/p>\n\n\n\n<p>Short-term, the average advertised asking rent increased 0.2% in June. Gateway and tech hub markets led the rent gains with Chicago (0.7%) on top, followed by Boston (0.6%), Columbus (0.4%), San Francisco and Seattle (both 0.4%). Notably, Denver (0.3%) had its fourth consecutive rent growth month, following a prolonged period of stagnation driven by high supply. Of the top 30 metros, four markets recorded negative rent movement, including Austin (-0.3%), Phoenix (-0.2%), Tampa and Miami (both -0.1%).<\/p>\n\n\n\n<p>The national occupancy rate stood its ground, settling at 94.6% in May, unchanged over the past 7 months. However, the index was down 20 basis points year-over-year, impacted by record deliveries. Resilient demand\u2014more than 250,000 units absorbed through May\u2014helped stabilize the market. Only 3 metros witnessed a shift larger than 0.3%: Chicago (0.4% year-over-year), Denver (-1.0%) and Phoenix (-0.6%).<\/p>\n\n\n\n<h2 class=\"wp-block-heading\" id=\"h-supply-growth-the-solution-for-affordability-issues\">Supply growth, the solution for affordability issues<\/h2>\n\n\n\n<p>The national advertised asking rents climbed 27% in the five years ending May 2025, Yardi Matrix data shows. This increase has led to renters\u2019 budgets becoming increasingly strained. Half of renters spent more than 30% of their income on housing and utilities in 2023, according to the Harvard Center for Joint Housing Studies. Additionally, 27% spent more than half of their income on housing. Since 2023, high-supply markets witnessed rent retraction, including Austin (-11.2%), Phoenix (-6.5%) and Orlando (-4.1%), adding further credence to the argument that inventory growth is the best solution to the affordability problem.<\/p>\n\n\n\n<p>Single-family build-to-rent average advertised asking rents increased $4 to $2,201 in June, while also being up 0.7% year-over-year. This marked the first time the rate passed the $2,200 mark. Mirroring its top multifamily performance, Chicago also led BTR rent growth with a 6.1% increase year-over-year, followed by Kansas City (5.5%), the Inland Empire (4.5%) and Harrisburg (4.1%). Negative rent movement was recorded in markets such as Raleigh-Durham (-3.9%), Austin (-2.9%), Tampa (-2.5%) and Cleveland (-2.3%).<\/p>\n\n\n\n<p>Read the full Yardi Matrix Multifamily National Market Report: <a href=\"https:\/\/www.yardimatrix.com\/publications\/download\/file\/7511-MatrixMultifamilyNationalReport-June2025\" target=\"_blank\" rel=\"noreferrer noopener\">June 2025<\/a>.<\/p>\n\n\n\n<p><\/p>\n","protected":false},"excerpt":{"rendered":"<p>During the first half of the year, rent grew at half the rate of pre-pandemic cycles, according to Yardi Matrix data Report highlights: Past 2025\u2019s midway point, the multifamily market remains steady with room for improvement The average U.S. advertised asking rent rose $3 to $1,749 in June, while increasing 0.9% year-over-year. Meanwhile, the figure [&hellip;]<\/p>\n","protected":false},"author":3471,"featured_media":9096,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_jetpack_memberships_contains_paid_content":false,"footnotes":""},"categories":[5,13,4],"tags":[16,388],"class_list":["post-9160","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-multifamily-market","category-national-reports","category-real-estate-trends","tag-multifamily-outlook","tag-single-family-rental-sector"],"yoast_head":"<!-- This site is optimized with the Yoast SEO Premium plugin v23.4 (Yoast SEO v24.6) - https:\/\/yoast.com\/wordpress\/plugins\/seo\/ -->\n<title>National Multifamily Market Report - June 2025 - Yardi Matrix Blog<\/title>\n<meta name=\"description\" content=\"Get the latest national multifamily market report from Yardi Matrix to learn about market fundaments and what to expect going forward.\" \/>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/www.yardimatrix.com\/blog\/national-multifamily-market-report-june-2025\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"National Multifamily Market Report - June 2025\" \/>\n<meta property=\"og:description\" content=\"Get the latest national multifamily market report from Yardi Matrix to learn about market fundaments and what to expect going forward.\" \/>\n<meta property=\"og:url\" content=\"https:\/\/www.yardimatrix.com\/blog\/national-multifamily-market-report-june-2025\/\" \/>\n<meta property=\"og:site_name\" content=\"Yardi Matrix Blog\" \/>\n<meta property=\"article:published_time\" content=\"2025-07-18T11:02:00+00:00\" \/>\n<meta property=\"article:modified_time\" content=\"2025-08-11T12:17:51+00:00\" \/>\n<meta property=\"og:image\" content=\"https:\/\/www.yardimatrix.com\/blog\/wp-content\/uploads\/sites\/39\/2025\/06\/iStock-2193316463.jpg\" \/>\n\t<meta property=\"og:image:width\" content=\"1200\" \/>\n\t<meta property=\"og:image:height\" content=\"628\" \/>\n\t<meta property=\"og:image:type\" content=\"image\/jpeg\" \/>\n<meta name=\"author\" content=\"Claudiu Tiganescu\" \/>\n<meta name=\"twitter:card\" content=\"summary_large_image\" \/>\n<meta name=\"twitter:label1\" content=\"Written by\" \/>\n\t<meta name=\"twitter:data1\" content=\"Claudiu Tiganescu\" \/>\n\t<meta name=\"twitter:label2\" content=\"Est. reading time\" \/>\n\t<meta name=\"twitter:data2\" content=\"3 minutes\" \/>\n<!-- \/ Yoast SEO Premium plugin. -->","yoast_head_json":{"title":"National Multifamily Market Report - June 2025 - Yardi Matrix Blog","description":"Get the latest national multifamily market report from Yardi Matrix to learn about market fundaments and what to expect going forward.","robots":{"index":"index","follow":"follow","max-snippet":"max-snippet:-1","max-image-preview":"max-image-preview:large","max-video-preview":"max-video-preview:-1"},"canonical":"https:\/\/www.yardimatrix.com\/blog\/national-multifamily-market-report-june-2025\/","og_locale":"en_US","og_type":"article","og_title":"National Multifamily Market Report - June 2025","og_description":"Get the latest national multifamily market report from Yardi Matrix to learn about market fundaments and what to expect going forward.","og_url":"https:\/\/www.yardimatrix.com\/blog\/national-multifamily-market-report-june-2025\/","og_site_name":"Yardi Matrix Blog","article_published_time":"2025-07-18T11:02:00+00:00","article_modified_time":"2025-08-11T12:17:51+00:00","og_image":[{"width":1200,"height":628,"url":"https:\/\/www.yardimatrix.com\/blog\/wp-content\/uploads\/sites\/39\/2025\/06\/iStock-2193316463.jpg","type":"image\/jpeg"}],"author":"Claudiu Tiganescu","twitter_card":"summary_large_image","twitter_misc":{"Written by":"Claudiu Tiganescu","Est. reading time":"3 minutes"},"schema":{"@context":"https:\/\/schema.org","@graph":[{"@type":"Article","@id":"https:\/\/www.yardimatrix.com\/blog\/national-multifamily-market-report-june-2025\/#article","isPartOf":{"@id":"https:\/\/www.yardimatrix.com\/blog\/national-multifamily-market-report-june-2025\/"},"author":{"name":"Claudiu Tiganescu","@id":"https:\/\/www.yardimatrix.com\/blog\/#\/schema\/person\/cbed638584257d6fb5a2a9c95c982b66"},"headline":"National Multifamily Market Report &#8211; 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