Multifamily rent: June update from Yardi Matrix
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
Rent growth month-over-month was mostly led by gateway and tech hub markets, the report finds. Advertised rents rose 0.2% month-over-month in June, with declines in only four of the top 30 metros.
About the Author
Quinn Purcell
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.