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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-August 2025
Kansas City’s advertised asking rents rose by 3.1 percent YoY through June, ranking third among Yardi Matrix’s top 30 metros. Stock growth moderated swiftly by midyear to 861 units delivered, but the construction pipeline remained robust with 7,333 units underway.
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Matrix Multifamily Inland Empire Report-August 2025
Inland Empire rent movement paused on a T3 basis through June at $2,159, as deliveries totaled 2,864 units through midyear. They’re likely to reach a new peak by year’s end, but so far occupancy has remained healthy, at 95.1 percent as of May.
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Matrix Multifamily Detroit Report-August 2025
Advertised asking rents in Detroit were up 0.4 percent on a T3 basis through June, double the national average. At 2.9 percent, YoY growth was ahead of most top metros and far above the 0.9 percent national average. The metro's footprint continued to expand, with 1,200 units recently delivered and an additional 28,100 under construction.
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Matrix Multifamily Charlotte Report-August 2025
Advertised asking rents in Charlotte were up 0.1 percent on a T3 basis through June, to $1,594--10 bps below the national average. Developers brought 8,337 units online, representing 3.5 percent of existing stock and 210 bps above the national figure, with Yardi Matrix expecting 18,385 units to come online this year.
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Matrix Multifamily Baltimore Report-August 2025
Baltimore’s average advertised asking rent grew 0.3 percent on a T3 basis through June, 10 bps ahead of the U.S., to $1,760. The metro’s 30-bps YoY uptick in average occupancy, to 95.0 percent, also highlighted its resilience, staying ahead of the 94.6 percent U.S. figure.
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Matrix Multifamily Atlanta Report-August 2025
Atlanta’s advertised asking rents posted the first positive quarter in 32 months, up by 0.1 percent on a T3 basis to $1,646 in June. Occupancy marked the second-largest increase among Matrix’s top 30 metros, up 30 bps YoY to 93.1 percent in May.
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Matrix Multifamily Sacramento Report-July 2025
No new projects broke ground in Sacramento in the first five months of 2025. However, record 2024 deliveries continued to impact advertised asking rents, which were down 0.1 percent on a T3 basis, to $1,947 as of May, 40 basis points below the U.S. growth rate.
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Matrix Multifamily Washington DC Report-July 2025
Advertised asking rents in Metro D.C. increased 0.4 percent on a T3 basis through May and were up 2.2 percent on a year-over-year basis, more than double the national rate of growth. At 95.1 percent, the metro's occupancy rate also outperformed the national average, as construction starts slowed significantly, despite the pressure from incoming supply.
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Matrix Multifamily Tampa Report-July 2025
Advertised asking rents in Tampa shrank 0.1 percent on a T3 basis through May but were up 0.4 percent on a year-over-year basis. At 94.4 percent, the metro's occupancy rate was on par with the national average, even amid pressure from 4,500 recently delivered units coupled with 17,400 units under construction.
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Matrix Multifamily Seattle Report-July 2025
Seattle’s advertised asking rents rose by 0.5 percent on a T3 basis through May to $2,246, outperforming the 0.3 percent U.S. rate, while occupancy remained at a healthy 95.1 percent in April, following a 30 bps YoY decline. The pace and prices of transactions also increased.
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Matrix Multifamily San Jose Report-July 2025
Advertised asking rents in San Jose were up 0.6 percent on a T3 basis through May, to an average of $3,259, outpacing the nation by 30 bps. Supply growth returned closer to historic averages, with 1,597 units coming online in the first five months.
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Matrix Multifamily San Francisco Report-July 2025
San Francisco’s average advertised asking rent grew 0.5 percent on a T3 basis through May, to $2,880, 20 bps above the U.S. average. Despite a strong 2024 for new supply, the metro’s occupancy inched up 10 bps, to 95.4 percent in April.
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Matrix Multifamily Houston Report-July 2025
Houston’s advertised asking rents rose by 0.2 percent on a T3 basis through May to $1,371, trailing the U.S. rate, which rose 0.3 percent to $1,761. With occupancy low at 92.6 percent in April and delivery pace expected to rise, new construction has moderated.
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Matrix Multifamily Dallas Report-July 2025
Advertised asking rents finally rose on a T3 basis in Dallas, although they remained negative YoY, down 1.5 percent to $1,528 in May. Occupancy declined by 50 bps YoY to 92.6 percent in April, as deliveries and new construction moderated.
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Matrix Multifamily Austin Report-July 2025
Austin’s advertised asking rents stabilized on a T3 basis for the first time in nearly two years, although they remained down a steep 5.2 percent YoY at $1,554 in May. It helped that the metro’s boasts among the best employment growth in the U.S., although deliveries in May were also well above the nation.
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Matrix Multifamily Orlando Report-July 2025
Advertised asking rents in Orlando were up 0.1 percent on a T3 basis through May, to $1,772, the first improvement in nine months. Rates remained down YoY, though, as the metro delivered a whopping 5,619 units in the first five months of this year, double the national figure.
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Matrix Multifamily National Report-June 2025
Multifamily rents maintained a tepid growth rate in June, with strong demand counterbalanced by high deliveries in the Sun Belt and ongoing uncertainty about the economy. The latest Yardi Matri monthly report also examines how above-trend rent gains in recent years are affecting affordability.
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Matrix Multifamily San Diego Report-June 2025
San Diego’s rent growth rose just 0.1 percent YoY, to $2,741, in April well below the 0.9 percent U.S. rate. Occupancy also inched up 0.1 percent YoY, to 96.2 percent as of March.
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Matrix Multifamily Raleigh Report-June 2025
Advertised asking rents in the Research Triangle increased 0.5 percent on a T3 basis through April but were down 0.6 percent on an annual basis. The metro's occupancy rate, at 93.5 percent, was well below the national average of 94.4 percent. Recent deliveries accounted for 1.9 percent of existing stock, more than double the national rate of completions.
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Matrix Multifamily Portland Report-June 2025
Advertised asking rents in Portland were up 0.1 percent on a T3 basis through April, to $1,759, 10 bps below the U.S. figure. Developers brought online just 1,806 units, or 0.9 percent of existing stock, through April, with construction starts in the first four months of 2024 also decreasing by 70 percent compared to last year.
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Matrix Multifamily Phoenix Report-June 2025
Robust stock expansion pressured both occupancy—down 0.4 percent YoY to 93 percent in March—and rent performance, down by 3.1 percent YoY through April to $1,550. While the pipeline was solid as of April, new construction has dwindled.
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Matrix Multifamily Nashville Report-June 2025
Last year’s supply peak pressured occupancy, with the rate dropping to 93.6 percent in March, the lowest level in more than a decade. However, advertised asking rents rose 0.2 percent on a T3 basis through April to $1,656.
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Matrix Multifamily Miami Report-June 2025
Advertised asking rents in South Florida were up 0.1 percent on a T3 basis through April, to $2,500, 10 bps below the U.S. figure. Occupancy rates in stabilized properties decreased to 95.4 percent, down 10 bps but still above the nation’s 94.4 percent average.
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Matrix Multifamily Los Angeles Report-June 2025
Los Angeles’ advertised asking rents rose by 0.2 percent on a T3 basis through April—on par with the nation—and YOY performance outpaced U.S. growth at 1.1%. Occupancy ticked up to 96.0 percent as of March, solid despite four years of strong supply.
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Matrix Multifamily Denver Report-June 2025
Advertised asking rents in Denver contracted 0.1 percent on a T3 basis through April, while the national average was up 0.2 percent. The metro's occupancy rate slid to 93.7 percent in March, below the nation’s 94.4 percent. Challenges included both ample new stock and an economy at a low point.