Yardi Matrix: Modest multifamily rent growth may signal stabilization

Elevated supply levels, economic headwinds continue to challenge market SANTA BARBARA, CALIF., May 6, 2026 – While the advertised rent increase in April 2026 lagged historical levels, stabilization in some high-supply U.S. multifamily markets offers the promise of slow but gradual rent growth as supply normalizes and excess inventory is absorbed over time, Yardi® Matrix reports. The average U.S. advertised rent reached $1,758 in April, up $4 from March but down 0.2% year-over-year.