Yardi Matrix reported that the average advertised U.S. apartment rent reached $1,775 in September, up 0.7% from the year before. Renewal rent growth cooled to 1.7%, its lowest reading since before 2020, while total occupancy was 93.9%.
Why it matters to multifamily marketers
Softer renewal growth with firming new lease rents gives marketers room to lean on retention offers while highlighting value in move in advertising, and the fresh numbers feed pricing and promotional messaging for Q4.