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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 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.
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Matrix Multifamily Kansas City Report – August 2026
Kansas City advertised asking rents rose 2.4 percent YoY through June to $1,383, the fourth-highest rate among Matrix’s top 30 markets. Occupancy fell 80 bps YoY to 93.9 percent, even as first-half supply remained constrained.
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Matrix Multifamily Detroit Report – August 2026
The average advertised asking rent in Detroit was up 0.4 percent on a T3 basis through June, to $1,363. Year-over-year, the metro's average rose 1.6 percent, well above the 0.2 percent national rate of growth and trailing only five major metros.
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Matrix Multifamily Manhattan Report – August 2026
Manhattan’s overall average asking rent continued to lead the nation by far, at $5,651, up 1.5 percent on a T3 basis. The borough’s strong rent performance helped drive New York City as a whole, with citywide YoY improvement also topping the nation, at 5.6 percent. Meanwhile, limited deliveries kept the occupancy rate at 98.3 percent, down just 10 bps YoY.
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Matrix Multifamily Washington DC Report – July 2026
The average advertised asking rent in D.C. was up 0.3 percent on a T3 basis through May, to $2,227. That was on par with the U.S. growth rate. The metro's struggling employment sector contrasted with strong development, with 21,000 units under construction and another 235,000 units in the planning and permitting stages.
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Matrix Multifamily Tampa Report – July 2026
Tampa’s advertised asking rents inched up 0.1 percent on a T3 basis through May, surpassed by the nation's 0.3 percent rise. The metro’s robust construction pipeline, including around 16,100 units under construction, continued to weigh on the fundamentals.
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Matrix Multifamily Seattle Report – July 2026
The average advertised asking rent was $2,226 through May, marking a 0.2 percent increase on a T3 basis that was 10 bps below the U.S. average. In the first five months of 2026, Seattle developers added 1,932 units, which amounted to 0.6 percent of existing stock, 10 bps behind the national rate of completions.
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Matrix Multifamily San Jose Report – July 2026
After 2025-s ended sluggishly, the 2026 spring leasing season revitalized the market’s fundamentals, with advertised asking rents up 0.8 percent on a T3 basis through May, to $3,414, 50 bps ahead of the U.S. average. Following two solid years of supply expansion, development moderated, with just 283 units coming online in the first five months.
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Matrix Multifamily San Francisco Report – July 2026
Rent growth accelerated in the metro, with the T3 rate clocking in at 0.8 percent in May, to an average of $3,019, 50 bps ahead of the U.S. average. YoY growth reached 4.5%, placing San Francisco at the top of the list of 30 major metros tracked by Yardi Matrix. Supply began to slow, with just 832 units completed in the first five months.
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Matrix Multifamily Sacramento Report – July 2026
Sacramento advertised asking rents maintained a 0.4 percent T3 gain through May, but remained down 0.5 percent YoY to $1,961, as the U.S. average rose 0.2 percent to $1,767. Occupancy slipped 40 bps to 94.8 percent, still above the U.S. rate.
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Matrix Multifamily Orlando Report – July 2026
The average advertised asking rent was $1,767 through May, marking a 0.2 percent increase on a T3 basis that was 10 bps below the U.S. average. Transactions totaled only $347 million during the first five months of 2026, with an average per-unit price of $174,502.
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Matrix Multifamily Houston Report – July 2026
Houston advertised asking rents inched up 0.1 percent on a T3 basis through May to $1,359, the first gain since May 2025, but fell 1.2 percent YoY. Meanwhile, occupancy dropped 110 bps YoY to 91.6 percent in April.
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Matrix Multifamily Dallas Report – July 2026
DFW employment growth rose 0.7 percent YoY through February, ranking it fifth among Yardi Matrix’s top 30 metros. Still, elevated supply kept advertised asking rents down 1.6 percent YoY through May to $1,524 and occupancy down 70 bps to 92.3 percent in April.
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Matrix Multifamily Austin Report – July 2026
Austin advertised asking rents improved this spring, rising 0.4 percent on a T3 basis through May to $1,508. But its 3.7 percent drop YoY ranked it last nationally. Meanwhile, employment growth held at 1.3 percent, the second-highest rate among top metros.
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Matrix Multifamily San Diego Report-June 2026
The metro weathered economic pressure coming out of the first quarter, with advertised asking rents sliding 0.1% on a T3 basis through April, to an average of $2,718, 30 bps below the U.S. A total of 2,204 units were delivered during this period. Together with the 6,180 completed last year, this volume diluted occupancy, which ticked down to 95.9% in March.
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Matrix Multifamily Raleigh Report-June 2026
The average advertised asking rent in Raleigh-Durham was up 0.1 percent on a T3 basis as of April, to $1,539, 10 bps lower than the national average. Developers brought 2,157 units online in the first four months of 2026, accounting for 1.0 percent of existing stock and 50 bps above the U.S. figure.
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Matrix Multifamily Portland Report-June 2026
Portland’s advertised asking rents were flat on a T3 basis through April, an improvement over the first quarter, while occupancies loosened slightly but outperformed the U.S. average at 94.5 percent. However, the metro’s multifamily market still has to contend with a weak economy and 4,400 units under construction, with many more in the pipeline.
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Matrix Multifamily Phoenix Report-June 2026
Phoenix advertised asking rents rose 0.2 percent on a T3 basis through April to $1,528, the first increase since May 2024. Elevated supply kept rents down 2.7 percent YoY and pulled occupancy 20 bps lower to 93.0 percent in March.
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Matrix Multifamily Nashville Report-June 2026
Following winter declines, Nashville advertised asking rents rose 0.1 percent on a T3 basis through April to $1,663, though they remained down 1.3 percent YoY. Occupancy slipped 40 bps YoY to 93.6 percent in March amid elevated supply.
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Matrix Multifamily Miami Report-June 2026
The average advertised asking rent was $2,526 through April, marking a 0.2 percent increase on a T3 basis, mirroring the national trend. South Florida developers added 2,649 units, or 0.7 percent of existing stock, in the first four months of 2026, outpacing the U.S. by 20 bps.