Multifamily Rent Growth Now Accelerating Faster Than Single-Family Homes

For the first time since July 2023, typical rent for multifamily units outpaced typical rent for single-family homes on a monthly basis, even if you need to squint to notice the difference. Multifamily rents grew 0.631% in April, while single-family rents grew 0.625%.

Over the past year multifamily rents rose only 2.8%, well below the 4.8% year-over-year growth seen in single-family rentals.

Source: Zillow