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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 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.
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Matrix Multifamily San Jose Report-December 2025
San Jose investment volume reached $1.5 billion YTD through October, already exceeding every previous year of the decade and signaling heightened confidence in the market’s performance. On the other hand, rents slid 10 bps on a T3 basis through October, to $3,310.
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Matrix Multifamily Sacramento Report-December 2025
Average advertised asking rents were down 0.2 percent on a T3 basis through October, to $1,959, mirroring national trends. Developers delivered 4,662 units through October, 3.2 percent of stock and 60 bps above the national rate.
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Matrix Multifamily Philadelphia Report-December 2025
Average advertised asking rents were up a modest 0.1 percent on a T3 basis through October, to $1,840 and 30 bps above the national average. Developers completed 6,065 units across the metro in the first 10 months of the year, 1.6 percent of existing stock.
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Matrix Multifamily Orlando Report-December 2025
Orlando’s advertised asking rents fell 0.4 percent on a T3 basis through October, a sharper drop than the national 0.2 percent contraction. As of October, the metro had gained more than 11,800 units, construction starts had increased and developers had close to 20,000 units underway.
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Matrix Multifamily Las Vegas Report-December 2025
Las Vegas advertised asking rents fell 1.7 percent YoY through October, while U.S. rates rose 0.5 percent. Occupancy increased 10 bps YoY to 93.8 percent in September amid moderating deliveries and slower construction starts.
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Matrix Multifamily Kansas City Report-December 2025
Kansas City advertised asking rents rose 2.4 percent YoY through October, well ahead of the 0.5 percent U.S. rate. Amid softer deliveries and mixed employment, occupancy rose 10 bps YoY to 94.8 percent in September.
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Matrix Multifamily Inland Empire Report-December 2025
Despite elevated deliveries, T3 rents stayed flat through October while advertised asking rents climbed 1.7 percent YoY to $2,165. Occupancy ticked up 10 bps YoY to 95.4 percent in September.
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Matrix Multifamily Houston Report-December 2025
Houston’s advertised asking rents declined 0.5 percent YoY through October to $1,361, while the U.S. rate rose 0.5 percent to $1,743. Occupancy fell 10 bps YoY to 92.6 percent in September amid moderating deliveries.
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Matrix Multifamily Detroit Report-December 2025
Detroit’s advertised asking rents were flat on a T3 basis through October, while the U.S. average edged down 0.2 percent. YoY growth hit 1.9 percent, topping most major metros and more than triple the national rate. Developers added more than 1,500 units, with 3,700 more underway.
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Matrix Multifamily Baltimore Report-December 2025
Advertised asking rents decelerated in Baltimore, ticking down 0.1 percent on a T3 basis through October—10 bps ahead of the national figure—to an average of $1,752, after modest gains throughout the year. Following 8,000 units added over two years, new construction moderated to just 2,972 units coming online YTD through October.
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Matrix Multifamily Washington DC Report-November 2025
The average advertised asking rent in the nation’s capital was down 0.3 percent on a T3 basis through September, to $2,227. That was also 20 bps below the U.S. average. Transaction volume remained moderate, with 32 assets accounting for $1.9 billion changing hands through September.
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Matrix Multifamily Tampa Report-November 2025
Tampa’s advertised asking rents dropped 0.6 percent on a T3 basis through September, marking a steeper fall than the national 0.1 percent dip. But the metro benefited from an improving job market, a robust construction pipeline
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Matrix Multifamily Seattle Report-November 2025
Seattle’s advertised asking rents dipped 0.3 percent on a T3 basis to $2,231 in September, underperforming the national rate, which was down 10 basis points to $1,750. As construction starts eased, occupancy gained 10 bps YoY, reaching 95.5 percent in August.
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Matrix Multifamily San Francisco Report-November 2025
Advertised asking rents in San Francisco were up 0.2 percent on a T3 basis through September, cooler than previous months but still above the U.S. average. Investors’ appetite grew again, with $1.8 billion in assets trading, up 55.6 percent YoY.
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Matrix Multifamily San Diego Report-November 2025
San Diego advertised asking rents continued to decelerate, down 0.2 percent on a T3 basis through September to $2,732, in response to the previous two years’ robust supply gains coupled with seasonal trends. Occupancy remained high, at 96.3 percent in August, 160 bps above the U.S. rate.
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Matrix Multifamily Raleigh Report-November 2025
Raleigh-Durham's average advertised asking rent was down 0.3 percent on a T3 basis in September, to $1,553, with declines expected to continue as the year comes to its end.