COMMERCIAL REAL ESTATE'S ECONOMIC ADVISORS

National multifamily rent growth rose to 1.2% in May 2026 as monthly momentum and market breadth improved. While rent growth remains subdued nationally, several Midwest, Northeast, and coastal markets continue to outperform, highlighting the increasingly localized nature of apartment market conditions.

This week’s Rental Housing Weekly Briefing examines the May CPI report’s impact on the interest rate outlook alongside Federal Reserve Z.1 data showing continued growth in multifamily mortgage debt.

Rent growth has been broadly felt across New York City since 2020, but five ZIP codes stand out. Led by Brooklyn and Bronx neighborhoods, each saw asking rents rise by more than 50%.

Many current development targets require rates to fall, which the market is no longer expecting.

This week’s Rental Housing Weekly Briefing examines Yardi Matrix’s latest multifamily market data and the May jobs report, with both pointing to steady demand but continued pressure from elevated rates and soft rent growth.

With futures markets now pricing a greater-than-even chance of a Fed hike before year-end, rate relief is off the table for the foreseeable future.

Homeownership barriers have caused the number of high-income households to surge, bust cost pressures have filtered down the income ladder

This week’s Rental Housing Weekly Briefing examines uneven multifamily rent growth across US metros alongside new Arbor-Chandan research showing persistent barriers in the renter-to-owner transition.

NYC rent growth remained well ahead of the national pace in April, with Manhattan pulling further ahead while borough-level momentum stayed uneven.