Multifamily rents rose slightly to $1,173 in August, with year-over-year growth at 0.4%, driven by new lease-up properties. Gateway and Midwest markets showed strongest growth, led by San Francisco at 6.1%, while Sun Belt and Western metros saw moderated declines. Month-over-month rents increased 0.1%. Single-family rental rents remained flat at $2,246, with regional disparities; Miami led growth at 5.4%, while the Southwest faced pricing pressure.
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