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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 Kansas City Report-March 2026
Average advertised asking rents were up 0.2% on a T3 basis to $1,355 through January, 40 bps above the national rate. The metro saw a large uptick in investment in 2025, recording $1.1 billion in properties changing hands.
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Matrix Multifamily Inland Empire Report-March 2026
Last year marked a decade peak for deliveries in the Inland Empire, with some 7,000 units added—more than the previous three years combined. Together with economic uncertainty, this led the advertised asking rate to tick down 0.3 percent on a T3 basis through January, 10 bps below the U.S. rate to an average of $2,151.
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Matrix Multifamily Houston Report-March 2026
Even as deliveries cooled to 1.9 percent of existing stock in 2025, Houston’s advertised asking rents were down 1.2 percent YoY to $1,353 in January. Occupancy fell 50 bps YoY to 92.2 percent in December amid broad-based softening.
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Matrix Multifamily Detroit Report-March 2026
Detroit began 2026 on a positive note, with advertised asking rents up 0.1 percent on a T3 basis, even as the national rent growth was negative. The YoY divide was even more pronounced. The U.S. average was up 0.2 percent, while the metro’s 1.8 percent climb placed it just behind Chicago, New York City, the Twin Cities, Kansas City and San Francisco and well ahead of most major metros.
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Matrix Multifamily Dallas Report-March 2026
After two years of significant delivery volume, Dallas-Fort Worth experienced a 1.9 percent decline in advertised asking rents YoY to $1,509 in January, while the U.S. inched up 0.2% to $1,741. Occupancy rose 10 bps to 92.9 percent in December, supported by Lifestyle demand.
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Matrix Multifamily Baltimore Report-March 2026
Baltimore kicked off 2026 with advertised asking rents up 0.4 percent YoY, while the U.S. average increased just 0.2 percent. Baltimore's occupancy was also above the national average, at 94.5 percent as of December, despite its gaining more than 3,200 units in the past year.
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Matrix Multifamily Austin Report-March 2026
After deliveries hit a new peak of 8.7 percent of stock in 2025, Austin’s advertised asking rents declined 5.0 percent YoY to $1,492 in January and occupancy fell 30 bps to 92.3 percent in December.
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Matrix Multifamily Washington DC Report-February 2026
Advertised asking rents in Washington, D.C., decreased 0.5 percent on a T3 basis through December, while the national average was down 0.3 percent. At 94.9 percent, the metro's occupancy rate outperformed the national average, despite pressure from more than 15,000 units delivered in 2025 and 20,000 underway.
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Matrix Multifamily Tampa Report-February 2026
The average advertised asking rent was $1,786 at year-end, a 0.3 percent decrease on a T3 basis, mirroring the national trend. Tampa developers added 11,269 units, or 4.1% of existing stock, in 2025, outpacing the U.S. by 110 bps.
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Matrix Multifamily Seattle Report-February 2026
Seattle’s occupancy rose 30 bps YoY to 95.5 percent in November as deliveries moderated. Yet advertised asking rents fell 0.9 percent YoY through December, in contrast to the flat U.S. average. Investment rebounded, with the average price per unit registering gains.
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Matrix Multifamily San Francisco Report-February 2026
San Francisco advertised asking rents rose 1.9 percent YoY through December, with the strong gain placing it among the leaders in Yardi Matrix’s top 30 metros. A contributor was the market’s strong growth in occupancy, which reached 95.8 percent as of November.
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Matrix Multifamily San Diego Report-February 2026
San Diego’s advertised asking rents ticked down 0.4 percent on a T3 basis through December, to $2,718, the second consecutive month of contractions. Still, occupancy remained high, at 96.1 percent in November, even while development kept up its pace, with 4,638 units coming online last year.
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Matrix Multifamily Raleigh Report-February 2026
The Research Triangle’s advertised asking rents fell 0.7 percent YoY through December to $1,539, while the U.S. average remained unchanged at $1,737. Occupancy inched up 10 bps YoY to 93.8 percent in November, despite sustained elevated deliveries.
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Matrix Multifamily Portland Report-February 2026
Portland closed out 2025 with advertised asking rents falling 0.6 percent on a T3 basis, a deeper drop than the 0.3 percent national contraction. The metro also grappled with a weakening job market, but continued to support a sizeable pipeline of 4,400 units under construction and maintained investment momentum.
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Matrix Multifamily Miami Report-February 2026
Miami transaction activity has increased, with $3.5 billion in assets changing hands, $1 billion more than the previous two years. Meanwhile, the average advertised asking rate was down 0.3 percent on a T3 basis, to $2,483, mirroring the national trend.
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Matrix Multifamily Los Angeles Report-February 2026
Los Angeles’ advertised asking rents slid 0.3 percent on a T3 basis through December, following continued supply expansion over the past three years. Developers added 11,400 units in 2025 alone. Some stability is in the cards for 2026, however, with deliveries expected to drop to 10,000 units.
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Matrix Multifamily Boston Report-February 2026
Boston advertised asking rents rose 0.2 percent YoY through December, but fell 0.5 percent on a T3 basis while the U.S. slipped 0.3 percent. Occupancy dipped 10 bps YoY to 96.2 percent in November amid moderating starts.
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Matrix Multifamily Twin Cities Report-January 2026
Average advertised asking rates were up 0.2 percent on a T3 basis through November, to $1,609 and 50 bps above the national rate. Developers only delivered 4,911 units through November, accounting for 1.8 percent of existing stock and 100 bps below the national rate.
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Matrix Multifamily Phoenix Report-January 2026
Phoenix advertised asking rents fell 4.1 percent YoY through November, while the U.S. average rose 0.2 percent. Occupancy increased by 40 bps YoY to 93.4 percent in October amid record deliveries and an elevated pipeline.
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Matrix Multifamily Nashville Report-January 2026
Nashville advertised asking rents declined 1.1 percent YoY through November, while the U.S. rate rose 0.2 percent. Despite nearly 24,000 units being delivered since early 2024, occupancy rose 30 bps YoY to 94.3 percent in October.
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Matrix Multifamily Manhattan Report-January 2026
Advertised asking rents in New York City remained on top, up 5.7 percent YoY through November, ahead of all major metros, while Manhattan’s T3 rates took a sudden 50 bp downshift, to an average of $5,607. Supply growth slowed slightly but was within historic margins, as developers added 2,678 units through November with another 13,234 units underway.
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Matrix Multifamily Denver Report-January 2026
Denver’s advertised asking rents declined 4.1 percent YoY through November, the second-weakest result among Yardi Matrix’s top 30 markets, while the U.S. rose 0.2 percent. Occupancy slipped 10 bps YoY to 94.1 percent amid elevated deliveries.
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Matrix Multifamily Chicago Report-January 2026
Average advertised asking rent was down 0.1 percent on a T3 basis through November, to $2,037, 20 bps above the U.S. figure. Transaction activity remains strong, with $3.1 billion in assets trading in 2025 through November.
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Matrix Multifamily Charlotte Report-January 2026
Charlotte’s advertised asking rents were down 30 bps on a T3 basis through November, mirroring the national trend. At 94.2 percent as of October, the metro's occupancy fell below the national average. In the near future, Charlotte will have to navigate growing pains due to 27,000 units under construction and another 92,500 units in the planning or permitting stage.
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Matrix Multifamily Atlanta Report-January 2026
Atlanta’s advertised asking rents declined 0.5 percent YoY through November, while the U.S. average rose 0.2 percent. Occupancy climbed 90 bps YoY to 93.7 percent amid elevated 2025 deliveries and a still-robust development pipeline.