Rent Growth | Apartments.com

Explore the trends in rent growth.

Multifamily building against blue sky

Multifamily Vacancy Stabilizes in Q2, As Demand Rises

After an upward climb that began in 2022, the multifamily vacancy rate stayed stable in the second quarter of 2024. This is one of a few positive signs for the industry revealed in the latest data from CoStar.

Winner's trophy with apartment building in background

Rent Growth: Winners and Losers

No longer lagging behind, the Midwest and Northeast are now fighting their way to the top of rent growth charts. How did they end up here, and what’s behind the cloudy outlook for the Sun Belt? Get an overview of the regional and market-level trends, including the top 50 metros.

Apartment building with "Now leasing" sign and upward arrows

Top 12 Multifamily Markets for Rent Growth in Q2 2024

These dozen major markets are outperforming the nation, with asking rents rising by twice or three times the national average in the second quarter of 2024. And bucking regional trends, it’s not just Midwest and Northeast markets that are topping the list this quarter.

Windows on exterior of apartment building

Luxury Properties Continue to Struggle in First Quarter, Despite Upward Demand Creep

The first quarter of 2024 saw renter demand increase, though not by enough to meet historically high supply, especially in the high-end quality class.

Photo-illustration of rent decline

Top 10 Multifamily Markets Facing Largest Rent Declines

These 10 Sun Belt markets are struggling with the greatest year-over-year drops in asking rent in the country. This decline in the first quarter of 2024 is thanks to a mismatch between supply and demand.

Apartments framed by overcast sky

February Rent Growth Remains Sluggish

Rent growth continues to decelerate on both a monthly and annual basis, with only one region of the country seeing a slight uptick compared to January.

Graph of declining growth superimposed over tall buildings

February 12, 2024

Rent Growth Creeps Upward in January

The multifamily industry saw a slight uptick in rent growth in January 2024. The Midwest and Northeast have driven the greatest increases in asking rent, while the South continues to lag behind with declining rents.

The Atlanta multifamily market has seen high levels of new construction

January 10, 2024

Q4 Increase in Demand Still Not Enough to Meet 2023’s High Supply

The multifamily sector closed the year with a few positive signs amid tough market conditions. Despite the flood of excess supply, absorption ticked upwards in late 2023, rising by 122 percent.

Rent growth trends

December 19, 2023

Rent Growth Continues to Slip, According to November 2023 Data

The latest rent data from CoStar reveals a slowdown in rent growth across the nation, with a small number of local markets pulling ahead.

Garden-style apartment building

October 4, 2023

Are Mid-Priced Apartments on the Road to Recovery?

The market shows positive signs for apartment owners and operators facing tough conditions. But a closer look reveals different outlooks for the middle and top end of the market.

Multifamily market begins to stabilize

September 27, 2023

Multifamily Market Shows Signs of Stabilizing

After the last few years of rocketing growth and dramatic declines, is the turbulence in the multifamily market starting to slow? With rent growth normalizing and a flattening trajectory for vacancy rates, a period of stabilization may be ahead.

Rent growth winners and losers

August 31, 2023

Top 10 Markets for Rent Growth — and Decline

In a challenging market for multifamily operators, these markets are the top 10 winners and losers for rent growth, according to the latest CoStar data.

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