Operators across the U.S. cut rents in more than 40% of the largest 150 markets, including 27 of the top 50 markets, in the year-ending February 2026.
The national year-over-year average cut in the U.S. was 0.4%, which marked the seventh consecutive month of annual rent cuts across the nation.
The supply-heavy South (-2.0%) weighed down rents, followed by the West (-0.3%). Increases in the Northeast (2%) and Midwest (0.8%) minimized the total performance decline.
Source: RealPage
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