COMMERCIAL REAL ESTATE'S ECONOMIC ADVISORS

US multifamily rent growth accelerated to 2.4% year-over-year in September 2026. Monthly gains remained above a 4% annualized pace, but easing momentum and narrowing market participation point to a more measured recovery.

Family formation, housing conditions, and employment are the leading reasons renters moved into their current homes in 2026, with differences between multifamily and single-family rental households.

On-time rent payments at mom-and-pop multifamily properties are improving faster than other rental segments, adding to signs of an operational recovery as supply recedes.

US multifamily rent growth reached 2.2% year-over-year in August as monthly momentum remained strong and rent gains broadened across more metro areas.