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Multifamily Metro Reports
Information is developed through a combination of original research studies, and reference to secondary sources. Our manner of resourcing and compiling information is defined within this section.
Multifamily Metro Reports
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Matrix Multifamily Miami Report – October 2026
Average advertised asking rents were up 0.1 percent on a T3 basis through August, to $2,545, 10 bps below the U.S. figure. Developers brought 6,784 units online, representing 1.7 percent of existing stock and 40 bps above the national rate of completions.
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Matrix Multifamily Richmond Report – October 2026
Richmond-Tidewater advertised asking rents were up 0.3 percent on a T3 basis, to $1,670, outpacing the 0.2 percent national rate. The market is in expansion mode, with asking rents up 4.0 percent year-over-year, development humming along and transaction volume up 40 percent year-to-date through August.
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Matrix Multifamily Indianapolis Report – October 2026
Indianapolis’ average advertised asking rent fell 0.1 percent on a T3 basis through August to $1,329, diverging from the 0.2 percent national increase. The metro is undergoing a broader cooldown, with softer occupancy coinciding with a dramatic pullback in deliveries, construction starts and investment activity.
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Matrix Multifamily Pittsburgh Report – October 2026
Pittsburgh advertised asking rents expanded 0.5 percent on a T3 basis to $1,502 through August, while the U.S. rate increased 0.2 percent. Developers maintained a steady supply, with more than 1,200 units added and another 3,600 underway.
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Matrix Multifamily Cleveland Report – October 2026
Advertised asking rents across the metro were up 0.2 percent on a T3 basis, on par with national movement. Markedly, Cleveland rents climbed 2.5 percent YoY, while the U.S. average was up just 0.4 percent. Nonetheless, the metro's occupancy rate dropped to 94.2 percent, just as the national average did.
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Matrix Multifamily St. Louis Report – October 2026
Average advertised asking rents were up 0.1 percent on a T3 basis through August, to $1,361, 10 bps below the U.S. figure. Developers brought 981 units online, representing 0.7 percent of existing stock and 60 bps above the national rate of completions.
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Matrix Multifamily Orange County Report – October 2026
Orange County advertised asking rents rose 0.3 percent on a T3 basis to $2,897 in August, ahead of the 0.2 percent U.S. gain, while 1.4 percent YoY growth exceeded the national rate by 100 bps. Average overall occupancy in stabilized assets stood at 96.4 percent, one of the highest rates in the nation.
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Matrix Multifamily Salt Lake City Report – October 2026
Salt Lake City advertised asking rents rose 0.4 percent YoY through August to $1,578, matching the U.S. pace. Meanwhile, occupancy declined 20 bps YoY to 94.7 percent as of July, following record inventory additions in 2025.
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Matrix Multifamily Portland Report – October 2026
Portland advertised asking rents rose 0.4 percent on a T3 basis in August to $1,761, the strongest performance since July 2024, but remained down 0.6 percent YoY. Softer occupancy and employment tempered improvement, while falling starts pointed to easing supply pressure.
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Matrix Multifamily San Antonio Report – October 2026
San Antonio advertised asking rents fell 3.4 percent YoY in August, the weakest performance among major Yardi Matrix metros. Elevated deliveries and continued construction are expanding renter choice and limiting landlords’ pricing power.
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Matrix Multifamily Knoxville Report – September 2026
Knoxville advertised asking rents fell 1.1 percent YoY through July to $1,502 despite a 0.2 percent T3 gain. Recent supply expansion pressured occupancy, which fell 150 bps YoY to 94.4 percent in June.
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Matrix Multifamily Nashville Report – September 2026
Nashville advertised asking rents rose 0.3 percent on a T3 basis through July to $1,681, the strongest reading since May 2024, while remaining down 0.9 percent YoY. Occupancy fell 70 bps YoY to 93.6 percent in June.
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Matrix Multifamily Albuquerque Report – September 2026
Albuquerque advertised asking rents rose 0.2 percent on a T3 basis through July to $1,402, showing stronger growth than a year earlier despite 2025’s delivery high. Rents remained down 0.8 percent YoY, while occupancy slipped 30 bps to 94.3 percent.
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Matrix Multifamily Phoenix Report – September 2026
Phoenix advertised asking rents were flat on a T3 basis through July at $1,529, while falling 2.1 percent YoY, the third-steepest decline among Matrix’s top 30 markets. Occupancy slipped 20 bps YoY to 93.2 percent in June.
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Matrix Multifamily Denver Report – September 2026
The average advertised asking rent in Denver was up 0.2 percent on a T3 basis through July, on par with the national rate. However, year-over-year, the metro’s average trailed nearly all Yardi Matrix’s top 30 major metros, under the weight of some 18,000 units still under construction.
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Matrix Multifamily Columbus Report – September 2026
Average advertised asking rents were up 0.2 percent on a T3 basis through July, to $1,368, mirroring the U.S. figure’s rent growth pace. Developers completed 2,747 units, representing 1.3 percent of existing stock and 20 bps above the national rate of completions.
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Matrix Multifamily Twin Cities Report – September 2026
The average advertised asking rent in the Twin Cities rose 0.2 percent on a T3 basis through July to $1,646, matching the national growth rate, while YoY the metro outperformed the U.S. average by a wide margin, supported by limited new supply and stronger rent growth across the suburbs.
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Matrix Multifamily Chicago Report – September 2026
The average advertised asking rent in Chicago was up 0.4 percent on a T3 basis through July, double the national rate of growth. In YoY growth the metro was only behind San Francisco, New York City and Kansas City. And despite a robust pipeline, June occupancy remained near 96 percent.
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Matrix Multifamily Jacksonville Report – September 2026
Average advertised asking rents were up 0.4 percent on a T3 basis through July, to $1,523 and 20 bps above the U.S. Developers completed 1,083 units, representing 0.8 percent of existing stock and 30 bps below the national rate of completions.
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Matrix Multifamily Atlanta Report – August 2026
Atlanta advertised asking rents fell 0.4 percent YoY through June to $1,650, while occupancy declined 50 bps to 92.9 percent. Deliveries moderated and construction starts dropped sharply, signaling a gradual easing of supply pressure.
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Matrix Multifamily Charlotte Report – August 2026
The average advertised asking rent was up 0.1 percent on a T3 basis through June, to $1,586, 10 bps lower than the U.S. figure. Developers brought 6,596 units online, representing 2.6 percent of existing stock and 170 bps above the national rate of completions.
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Matrix Multifamily Philadelphia Report – August 2026
Advertised asking rents in Philadelphia were up 0.3 percent on a T3 basis, to $1,869, 10 bps above the national average. The metro’s occupancy rate was 95.4 percent as of May, well above the U.S. average of 94.1 percent. Developers brought 3,627 units online through June, 0.9 percent of existing stock and on par with the U.S. figure.
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Matrix Multifamily Baltimore Report – August 2026
The average advertised asking rent landed at $1,774 through June, marking a 0.3 percent increase on a T3 basis and 10 bps above the U.S. figure. Nonetheless, employment growth was down, the transaction pace remained low, and developers added 745 units in the first half of 2026, 60 bps below the national rate.
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Matrix Multifamily Las Vegas Report – August 2026
Las Vegas deliveries slowed to 474 units through June, representing 0.2 percent of stock, after heavier 2024–2025 supply waves. Advertised asking rents fell 0.9 percent YoY to $1,478, while occupancy slipped 80 bps YoY to 92.6 percent.
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Matrix Multifamily Inland Empire Report – August 2026
Inland Empire advertised asking rents rose 0.5 percent YoY through June to $2,186, ahead of the 0.2 percent U.S. gain, and occupancy slipped 20 bps to 95.2 percent, amid a strong influx of deliveries.