In February 2026, multifamily rent prices remained flat as the average U.S. advertised rent stagnated at $1,740, according to the Yardi Matrix Multifamily National Report. Year-over-year growth fell 10 basis points to 0.1% as well.
“While February is typically a slower month, there are longer-term issues of concern,” the report states. For one, rent prices have been “essentially unchanged” for the past 18 months. Occupancy rates are negative year-over-year in the majority of the top 30 Matrix markets as well.
Additionally, population growth—a “key element” of multifamily demand—is slowing in the U.S. due to immigration policy and declining birthrates.
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