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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 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.
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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.