The national average apartment rent in April was $1,730, a 0.2% increase from March’s upwardly revised level of $1,727.
According to data from Apartsment.com, a subsidiary of CoStar Group Inc. (NASDAQ: CSGP), April was the fifth 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 inched up to 0.5% in April, down from 0.6% in March and from 1.4% one year earlier.
All five regions posted month-over-month increases. The Northeast, Midwest and Pacific regions led on a monthly basis, each rising 0.3%, followed by the Mountain region at +0.2% and the South at +0.1%.
On an annual basis, regional performance was more uneven. The Midwest recorded the strongest year-over-year rent growth at 2.0%, followed by the Northeast at 1.1% and the Pacific at +1.0%. But rents declined year-over-year in the South by -1.1% and in the Mountain region by -1.9%. Performance across Western markets diverged, with supply-heavy Mountain metros facing greater pressure than more supply-constrained Pacific markets.
At the metro level, 45 of the top 50 markets posted month-over-month increases, down slightly from 46 markets in March. San Francisco led monthly rent growth with a +1.0% increase, followed by San Jose at +0.7% and Boston at +0.7%. Only five major markets recorded monthly rent declines: San Antonio, Las Vegas and Houston each down -0.2% while Fort Lauderdale and Tampa were down -0.1%.
On an annual basis, San Francisco continued to outperform by posting rent growth of +7.3%, while Austin had the largest annual decline at -4.1%.
0 Comments