Top 10: Average Effective Rent Growth
Multifamily rent performance has been getting a lot of attention lately, and rightfully so. After showing some improvement through most of the year on the back of an improved supply and demand environment, rent growth stumbled in October. The upcoming ALN monthly newsletter for November will cover the rent performance picture in more detail.
In this space today, we have the top ten and bottom ten markets for average effective rent growth for new leases over the last twelve months. Rent data refers to conventional properties of at least fifty units.
Top 10
|
Market |
Average Effective Rent |
12-month Change (%) |
|
TX – Abilene |
$1,167 |
17.7% |
|
NH – Concord |
$2,045 |
10.3% |
|
IN – South Bend |
$1,292 |
10.0% |
|
WV – Charleston |
$1,184 |
9.2% |
|
AR – Northwest Arkansas |
$1,141 |
9.2% |
|
LA – Lake Charles |
$1,102 |
8.9% |
|
PA – State College/Altoona |
$1,481 |
7.5% |
|
ND – Bismarck |
$1,239 |
7.0% |
|
ME – Augusta/Portland |
$2,094 |
6.9% |
|
IL – Springfield |
$1,123 |
6.8% |
Don’t miss out on the Multifamily 2025 Recap and 2026 Outlook webinar on December 2, 2025! Space is limited, so save your seat now!
Bottom 10
|
Market |
Average Effective Rent |
12-month Change (%) |
|
FL – Fort Myers/Naples |
$1,786 |
-6.4% |
|
CO – Denver |
$1,818 |
-4.1% |
|
TX – Austin |
$1,457 |
-3.1% |
|
AZ – Tucson |
$1,153 |
-2.5% |
|
NC – Asheville |
$1,632 |
-1.9% |
|
TX – San Antonio |
$1,209 |
-1.6% |
|
AZ – Phoenix |
$1,534 |
-1.4% |
|
TX – Laredo |
$1,117 |
-1.3% |
|
TX – Corpus Christi |
$1,126 |
-1.1% |
|
VT – State |
$1,992 |
-0.9% |
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