Top 10 U.S. Cities for Rent Growth in Q2 2025

In the second quarter of 2025, national rent growth in multifamily housing remained modest at around 1.2%, according to Apartments.com, but the story varies significantly across U.S. metros. San Francisco led the charge with a robust 5.6% year-over-year increase, driven by limited new supply and strong urban demand. Chicago followed close behind at 4.3%, fueled by a shortage of new multifamily developments. San Jose also stood out with a 3.5% rise, fueled by the thriving tech sector amid moderate supply constraints.

Other notable performers included Pittsburgh and Norfolk, where vacancy levels remained low and rent increases hovered around 3.1%. Meanwhile, Sun Belt markets—despite recent pandemic-era surges—showed slower growth, signaling a shift in renter preferences. This trend highlights that while national rent growth has stabilized, significant opportunities exist for landlords in regional hotspots where demand eclipses supply.

For property owners, these findings emphasize the importance of localized market insight. National averages can mask high-performance micro-markets where well-positioned properties in growing metros can command stronger rental income. As regional dynamics continue to diverge, landlords should prioritize data-driven investment and adjust pricing and retention strategies based on metro-specific trends.
https://www.apartments.com/grow/learning-center/rent-growth-june-2025