Multifamily rents reflect uncertainty in October 2025
Rents declined across multifamily and build-to-rent sectors in October, with softening demand and falling absorption rates reshaping trends in major U.S. markets, according to the latest Yardi Matrix report.
Multifamily rents continued to soften in October as economic uncertainty and weakening consumer health put pressure on demand. The average U.S. advertised rent fell by $4 to $1,743 for the month, maintaining a year-over-year growth rate of just 0.5%.
Early signs of demand erosion are emerging across the country. Several Midwest metros—including Detroit, the Twin Cities, and Indianapolis—saw absorption rates drop sharply in recent months. Similar trends are appearing in Sun Belt markets such as Orlando, Nashville, Miami, Southwest Florida, and Dallas, suggesting that the slowdown is broad-based rather than regional.
The single-family build-to-rent segment also experienced continued declines. Advertised BTR rents fell for the third straight month, losing ground gained earlier in the year. The average rate dropped by $6 in October to $2,195, while year-over-year growth remained flat at 0.0%.
Quinn Purcell is the Managing Editor for Building Design+Construction. He is a graduate of Idaho State University with a Bachelor of Arts in Communication, and an emphasis in Multiplatform Journalism. He specializes in video, photography, copywriting, feature writing, and graphic design.
