National Rent Growth Turns Positive for First Time in Three Years

The U.S. rental market is showing signs of a sustained recovery, according to the October 2026 Apartment List National Rent Report. For the first time in over three years, year-over-year rent growth has entered positive territory, rising 0.1% compared to October 2025.

While the market is currently experiencing a typical seasonal cooling—with rents decreasing 0.3% month-over-month in October—the broader trend remains optimistic for property owners. The national multifamily vacancy rate has fallen to 7.0%, down from a peak of 7.3% earlier this year, indicating that supply and demand are beginning to rebalance.

Market analysts suggest that if current conditions persist, 2026 will mark the first full year of positive rent growth since 2022. This trajectory is expected to carry into 2027, providing a more stable environment for investors and property managers as the industry moves away from the volatility of the post-pandemic years.