archive
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
-
Matrix Multifamily Los Angeles Report – June 2026
Advertised asking rents slightly recovered in L.A., ticking up 0.1 percent on a T3 basis through April to an average of $2,639, on the heels of five months of contractions. Following three years of solid supply growth, the average occupancy slid 30 bps, to 95.7 percent, but remained above the U.S. average.
-
Matrix Multifamily Denver Report – June 2026
Denver advertised asking rents fell 3.6 percent YoY through April to $1,821, the second-steepest decline among Yardi Matrix’s top 30 metros. Occupancy slipped 90 bps YoY to 93.2 percent in March, even as starts moderated.
-
Matrix Multifamily Chicago Report – June 2026
Chicago’s advertised asking rents rose 3.3 percent YoY through April to $2,080, ranking it among the top three major U.S. markets. Transaction activity also picked up, totaling $1.8 billion during the first four months of 2026. If this trend continues, sales volume could exceed last year’s $4 billion.
-
Matrix Multifamily Boston Report – June 2026
Modest deliveries through April and the seasonal pattern helped restrain Boston’s rent decline, with advertised asking rents down 0.6 percent YoY through April to $2,876, while occupancy stayed healthy at 95.6 percent in March despite a 70 bps YoY drop.
-
Matrix Multifamily Twin Cities Report-May 2026
Twin Cities advertised asking rents rose 2.5 percent YoY through March to $1,621, ranking the metro fourth among the Yardi Matrix top 30. Meanwhile, occupancy slipped 10 bps YoY to 95.2 percent in February.
-
Matrix Multifamily St Louis Report-May 2026
St. Louis closed the year’s first quarter with rent growth that outpaced the U.S. average, as advertised asking rents increased 0.3 percent on a T3 basis compared with 0.1 percent nationally. This performance came even as the metro’s pipeline remained robust, with some 4,700 units under construction and another 21,000 moving through the planning and permitting stages.
-
Matrix Multifamily San Antonio Report-May 2026
Elevated deliveries weighed down fundamentals in San Antonio. Advertised asking rents fell 2.8 percent YoY through March to $1,232, while the U.S. rate rose 0.1 percent; the metro’s occupancy dropped 90 bps to 89.8 percent in February.
-
Matrix Multifamily Philadelphia Report-May 2026
The average advertised asking rent was up 0.3% on a T3 basis through March, to $1,852, 20 bps above movement in the national rate. The market’s overall occupancy for stabilized properties remained healthy, despite a 10 bps drop to 95.4%.
-
Matrix Multifamily Manhattan Report-May 2026
Although fundamentals softened slightly, advertised asking rent growth picked back up after the winter season, rising 0.6% on a T3 basis through March to $5,479. YoY growth was 4.2%, topping nearly all major metros. Supply maintained momentum, with 16,559 units under construction, a large number via conversions.
-
Matrix Multifamily Las Vegas Report-May 2026
Las Vegas advertised asking rents fell 1.3 percent YoY through March to $1,468, while the U.S. average rose 0.1 percent to $1,750. Occupancy fell 70 bps YoY to 92.8 percent in February after two strong years of supply growth.
-
Matrix Multifamily Charlotte Report-May 2026
The average advertised asking rent was up 0.1 percent on a T3 basis through March, to $1,581, mirroring the growth in the national average. The metro’s deliveries expanded significantly last year, with 18,436 units completed, accounting for 7.4% of existing stock and marking the largest number of completions in Charlotte in the last five years.
-
Matrix Multifamily Atlanta Report-May 2026
Atlanta advertised asking rents fell 0.9 percent YoY through March to $1,634, while the U.S. average rose 0.1 percent. Atlanta was one of two top 30 Yardi Matrix metros to post gains in occupancy, rising 20 bps YoY to 93.3 percent in February.
-
Matrix Multifamily Orange County Report-April 2026
Orange County advertised asking rents rose 1.4 percent YoY through February, well ahead of the 0.1 percent U.S. average. Limited supply growth and major healthcare investments kept fundamentals steady and occupancy at 96.5 percent.
-
Matrix Multifamily Salt Lake City Report-April 2026
Advertised asking rents were down 0.4% on a trailing T3 basis through February, to $1,525, while the national average slid 0.1%. In 2025, developers completed 9,430 units, comprising 6.7% of existing stock and a whopping 350 bps above the U.S. figure.
-
Matrix Multifamily Richmond Report-April 2026
Richmond ended the winter rental season with an advertised asking rent uptick of 0.4 percent on a T3 basis through February, reaching an average of $1,619, 50 bps above the U.S. figure. This was despite strong supply growth, as developers added nearly 6,100 units in 2025, above the decade’s annual average.
-
Matrix Multifamily Pittsburgh Report-April 2026
Pittsburgh advertised asking rents slid 0.1 percent on a T3 basis to $1,444 through February, on par with the U.S., while on a YoY basis it rose a solid 1.5 percent. Supply growth decreased in 2025, with 1,067 units added, but was still on par with historic performance as the market readjusted following a 2024 expansion.
-
Matrix Multifamily Knoxville Report-April 2026
Knoxville entered 2026 with softer multifamily fundamentals, as advertised asking rents fell 0.9 percent YoY to $1,470 in February and occupancy declined 70 bps YoY to 94.9 percent. Meanwhile, job growth rose 1.2 percent in 2025, double the U.S. average.
-
Matrix Multifamily Jacksonville Report-April 2026
Heavy deliveries continued to pressure fundamentals in Jacksonville, with advertised asking rents down 1.4 percent YoY through February to $1,488 and occupancy sliding 10 bps to 92.6 percent. Meanwhile, employment growth moderated to 1.0 percent in 2025, ahead of the 0.6 percent U.S. average.
-
Matrix Multifamily Indianapolis Report-April 2026
Average advertised asking rents remained flat on a trailing T3 basis through February, at $1,310, but outperformed the national average by 10 bps. Developers added 6,075 units to the metro in 2025, with completions accounting for 2.9 percent of existing stock, 30 bps below the U.S. figure.
-
Matrix Multifamily Columbus Report-April 2026
Columbus advertised asking rents were unchanged on a T3 basis through February, at $1,355. Nonetheless, the metro outperformed the national average, which shrank 10 bps. The impact of 13,500 units under construction, with another 35,000 units moving through the planning and permitting phases, is yet to come.
-
Matrix Multifamily Cleveland Report-April 2026
Advertised asking rents across the metro were up 0.2 percent on a T3 basis, even as growth on a national level remained negative. More strikingly, Cleveland rents climbed 2.8 percent YoY, while the U.S. average inched up 0.1 percent. The metro's occupancy rate was 20 bps above the U.S. average at 94.5 percent.
-
Matrix Multifamily Albuquerque Report-April 2026
Employment remained a bright spot in Albuquerque, up 1.2 percent YoY, outperforming the 0.6 percent U.S. rate. After deliveries peaked in 2025, advertised asking rents fell 0.9 percent YoY through February and occupancy slipped 30 bps to 94.3 percent.
-
Matrix Multifamily San Jose Report-March 2026
San Jose advertised asking rents ticked down 0.1 percent on a T3 basis through January, to $3,297, just 10 bps ahead of the U.S., marking the fourth month of contractions for the metro. Investment transactions, on the other hand, hit a high of $2 billion last year.
-
Matrix Multifamily Sacramento Report-March 2026
Sacramento’s advertised asking rents fell 0.8 percent YoY to $1,946 in January, while the U.S. rose 0.2 percent to $1,741. Occupancy rose 10 bps YoY to 95.2 percent in December despite record deliveries and strong construction activity.
-
Matrix Multifamily Orlando Report-March 2026
Average advertised asking rents fell 0.3% on a T3 basis in January, to $1,753 and 10 bps below the national rate. The metro saw an increase in construction starts in 2025, with developers breaking ground on 11,447 units across 49 projects.