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Top 10 Multifamily Rent MSAs (as of January 2025)

Writer: Dennis LeeDennis Lee

Multifamily Rent Trends:

Where Are Prices Headed in 2025?

 

Multifamily rent growth is anything but predictable. Over the past year, some markets have maintained steady increases, while others are seeing sharper declines.


Our latest analysis highlights rental trends in the top 10 markets from Dec 2023 to Jan 2025 and their recent shifts in growth.



🧩 Key Takeaways:


📉 Diverging Trends

  • No MSA exhibits a perfectly consistent upward or downward trend. However, some markets continue their rent growth trajectory (e.g., San Jose, San Diego, Miami, Riverside), while others are experiencing a more pronounced decline (e.g., New York, Boston, Washington DC).


🔄 Recent Reversals

  • Even in growth markets, recent months show slight declines, likely driven by seasonal fluctuations or macroeconomic factors affecting rental demand.


⚠️ Accelerating Declines

  • Some high-density urban markets (e.g., New York, Boston, Washington DC) are seeing sharper rent drops. Washington DC had an upward trend but began declining after August 2024. New York and Boston are also experiencing steeper declines than other markets, possibly indicating affordability concerns or a shift in demand toward more cost-effective regions.

Source: Market Stadium, Various Sources
Source: Market Stadium, Various Sources

Understanding these rent fluctuations isn't just about tracking price changes—it's about spotting investment opportunities and market risks ahead of time.


📊 Are these shifting rental dynamics influencing your investment strategy? Whether you’re considering multifamily acquisitions, rent-stabilized properties, or build-to-rent developments, staying ahead of these trends is key.




For a personalized demo and more detailed market analysis, simply scroll down. To explore our product and its features, visit our website or our walkthrough page anytime.



Dennis Lee

CEO at Market Stadium

Prev. Lionstone Investments Research Team




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