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Apartment Rent Growth Ticks Up Slightly in July as US Multifamily Demand Stayed Strong

Midwest and Northeast Markets Still Dominate, but Two Surprise Markets Emerge
The Silicon Valley city of San Jose posted one of the most significant jumps in apartment rent growth during July. (Getty Images)
The Silicon Valley city of San Jose posted one of the most significant jumps in apartment rent growth during July. (Getty Images)
CoStar Analytics
August 7, 2024 | 7:31 P.M.

Annual asking rents for apartments nationally increased by 10 basis points to an average growth rate of 1.2% in July as demand for rental units maintained the elevated pace set in the second quarter.

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