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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-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.
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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.
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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.
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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.
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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.
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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.
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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.
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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.
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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.
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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.