Apartment List's July 2026 report puts the national median rent at $1,388, up 0.2% month-over-month for a sixth straight monthly increase but still down about 1.1% year-over-year. The national multifamily vacancy rate stood at 7.2% — near its recent peak but declining for the first time since late 2021 as new-supply pressure eases.
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US apartment rents keep creeping up; median hits $1,388 as vacancy finally dips
Why this matters for founders
For founders signing residential or live-work leases, the market still slightly favors tenants, but the vacancy trend is turning — lock in longer terms or concessions now before landlords regain pricing power.
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