Apartment rents inched up slightly in March with the national average rising to $1,723, a 0.2% uptick from February’s upwardly revised level of $1,719.
According to Apartments.com, an online marketplace of CoStar Group (NASDAQ: CSGP), February marked the fourth consecutive month of positive rent growth following a period of flat to declining monthly performance in the second half of 2025.
On an annual basis, rent growth eased slightly to 0.4% in March, down from 0.5% in February and from 1.5% one year earlier.
All five regions posted month-over-month increases, while on an annual basis the Midwest recorded the strongest year-over-year rent growth at 1.9%, followed by the Northeast at 1.0% and the Pacific at 0.7%. In contrast, rents declined year-over-year in the South (-1.3%) and in the Mountain region (-2.2%).
At the metro level, rent growth broadened further in March, with 46 of the top 50 markets posting month-over-month increases, up from 38 markets in February. San Francisco led monthly rent growth with a 0.8% increase, and the city was the leader in year-over-year rent growth with a 6.3% gain.
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