Apartment List’s National Rent Report – October 2025

Apartment List’s National Rent Report – October 2025

“Be fearful when others are greedy, and greedy when others are fearful.” — Warren Buffett

According to Apartment List’s National Rent Report for October 2025, national median rent dropped 0.4% in September to $1,394 – the second consecutive month-over-month decline. They say it’s likely we’ll see further modest rent declines through the remainder of the year.

“All of our key indicators are pointing toward ongoing sluggishness in the multifamily rental market – rent prices are down and the vacancy rate is at an all-time high. As construction slows further in the second half of this year and into 2026, rent prices and occupancy should begin to stabilize, and a return to tighter market conditions remains on the horizon.”