Each month, Yardi Matrix releases a national multifamily report, highlighting the biggest updates in the sector. By June 2025, the multifamily market saw a small gain over the first half of the year.
The average U.S. rent rose by $3 in June to $1,749, leaving year-over-year growth at 0.9 percent. Rent growth was strongest in the Midwest, led by Chicago, Ill. (3.6% growth), Columbus, Ohio (3.3%), Kansas City, Mo. (3.2%) and Detroit, Mich (2.9%).
Alternatively, rent growth declined in the Sun Belt and Mountain West areas such as Austin, Texas (-4.7%), Denver, Colo. (-3.9%), Phoenix, Ariz (-2.6%).
National Average Rents
