U.S. apartment rents were essentially flat in July, with the national average rising +0.03% to $1,747 from June’s upwardly revised level of $1,746, CoStar Group’s Apartments.com reported Wednesday. This marks the eighth consecutive month of positive rent increases following a period of flat to declining monthly performance in the second half of 2025. On an annual basis, rent growth accelerated to +1.0% in July 2026 from the upwardly revised +0.9% in June and was slightly down from the +1.1% reading recorded one year earlier.

June 2026 was initially reported as a +0.1% month-over-month increase and has been revised upward to +0.2%.

Although apartment rent growth typically slows as the market moves further into the summer leasing season, gains in July were particularly subdued. “Following modest rent increases during the spring, the +0.03% increase recorded in July represents a notable slowdown in monthly pricing momentum,” according to Apartments.com. “While annual rent growth continues to improve gradually, elevated supply levels continue to restrain pricing momentum nationally.”

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