Momentum: Where Multifamily Rents Are Growing or Falling Less

Of the 50 largest markets, 41 saw improvement in year-over-year rent change in Jan’26 versus the low point of 2025. In many Sun Belt/Mountain markets, rents are still falling but to a lesser degree than previously. If that sticks, it would suggest the deepest rent cuts occurred in 2025.

Source: Jay Parsons