COMMERCIAL REAL ESTATE'S ECONOMIC ADVISORS

A data-driven look at how utility costs as a share of rent have changed for multifamily renters since 2000, based on American Community Survey microdata.

Released annually, the report is a snapshot of the intersection of racial disparities in US housing and inequities in other socioeconomic dimensions, such as education, geography, income, and evolving economic conditions.

February 2026 data from the Independent Landlord Rental Performance Report show on-time rent payments rebounding to 83.7%, with late-payment pressure easing and full-payment rates reaching their strongest level since late summer 2025. While year-over-year collections remain below prior levels, the trend continues to point toward stabilization in the mom-and-pop rental market.

National multifamily rents rose 1.4% year over year in January 2026 as rent growth continued to moderate. Metro-level performance remains uneven across markets.