Apartment rents remained mostly flat during August, with the national average dipping by a scant -0.03% to $1,751 from July’s upwardly revised level of $1,752.
According to data from Apartments.com, an online marketplace of CoStar Group Inc. (NASDAQ: CSGP), this mild decline halted eight consecutive months of positive rent increases following a period of flat to declining monthly performance in the second half of 2025.
On an annual basis, rent growth accelerated to +1.3% in August from the upwardly revised +1.1% in July and was up slightly from the +1.1% reading recorded in August 2025. The July national average that was initially reported as a +0.03% month-over-month increase has been revised upward to +0.1%.
Regional rent growth varied last month. The Pacific region led on a monthly basis with a +0.1% increase while the Northeast and Midwest had slight dips at -0.02% and -0.03%, respectively. More significant declines were posted in the South and Mountain regions, both down -0.2%.
On an annual basis, regional performance also remained uneven. The Pacific and the Midwest recorded the strongest year-over-year rent growth, both at +2.2%, followed by the Northeast at +2.0%, while the South fell by -0.1% and in the Mountain region by -0.5%.
At the metropolitan level, rent growth was less widespread with only 12 of the top 50 markets posting month-over-month increases, seven recording unchanged rents and 31 recording declines. Orange County led monthly rent growth with a +0.6% increase while Orlando and Denver led the rent growth declines at -0.7%. On an annual basis, San Francisco continued to outperform with a rent growth of +11.9% and San Antonio was at the other end of the spectrum with a -2.2% annual decline.
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