Yardi Matrix data shows October apartment rents rose month over month for the first time since 2022

U.S. multifamily asking rents rose 0.1% from September to October, the first October increase since 2022, according to a Yardi Matrix report covered by Multifamily Dive. Year-over-year rent growth reached 1.4%, the fastest pace in more than three years, with gains in 14 of Yardi Matrix's top 30 markets. San Francisco led with 8.2% annual growth, followed by Chicago at 4.8% and New York at 3.6%, while Austin, Houston and Nashville posted the largest declines. National stabilized occupancy was 94.3%, flat from September and down 0.2% from a year earlier.