National Multifamily Market Report – September 2025

Market Overview

‍The national multifamily market softened in September 2025 as the average advertised asking rent slipped by six dollars to one thousand seven hundred fifty. Year over year growth measured only zero point six percent and more than two thirds of the top thirty metros recorded month over month declines. Coastal and Midwestern markets showed the most resilience while supply heavy metros such as Denver, Austin and Phoenix continued to post negative rent performance.

‍About Yardi Matrix

‍Yardi Matrix is a research and analytics firm focused on multifamily housing markets. Their September 2025 national report compiles data on rent trends, occupancy levels, supply pipelines and broader economic conditions. The report helps owners, developers and investors evaluate timing, risk and strategy in today’s shifting environment. To read the full report, click here.