Multifamily market sees quarterly rent rise after long pause
The Yardi Matrix Multifamily National Report for September 2026 reports that despite falling in September, multifamily rents are up 0.3% this quarter. This marks the first third-quarter increase in four years.
Year-over-year rent growth increased 20 basis points to 0.7% in September, though the average rent dropped by $1 to $1,775 as well.
Where is Rent Growing Across the U.S. in September 2026?
Across the U.S., the highest rent growth is found in cities like San Francisco (a 7% growth year-over-year), New York City (3.8% growth), Chicago (3.2%), Kansas City (3.1%), and Detroit (2.3%).
Alternatively, 14 out of the 30 metros analyzed by Yardi Matrix reported negative rent growth. These include Austin (-2.5%), Houston (-2%), and Denver (-1.6%).
National Average Rents
To read the full report, visit Yardi Matrix here.
About the Author
Quinn PurcellQuinn Purcell
Quinn Purcell is the Managing Editor for Building Design+Construction. Covering the building industry for over four years, he has contributed to several award-winning industry reports, physical/digital magazines, and online news coverage. Quinn delivers content ranging from multifamily housing, technology, sustainability, and more.
For BD+C, Quinn runs the brand's 40 Under 40 program, covers product updates monthly, manages a blog partnership with over 50 AEC firms, and writes daily analytic-driven content for the website.