In this analysis, we examine rent trends for 1-bedroom MFHs across 10 major metros in the U.S. rental market. Based on verified data from millions of active listings on the Dwellsy.com Marketplace between June 2024 and June 2025.
Methodology
This report analyzes trends in the U.S. single-family rental (SFR) market, focusing on three-bedroom homes across 10 major metro areas. This report analyzes three-bedroom single-family rentals (SFRs) across 10 major U.S. metros, based on over 16 million verified listings. Data is cleaned to remove duplicates, errors, and outliers, then tracked month-over-month and year-over-year to show both seasonal and long-term trends. Figures are released as preliminary and may shift slightly, as final numbers are confirmed about two months later to ensure accuracy. See full methodology here.
The July 2025 multifamily housing data for 1-bedroom rentals paints a mixed picture across major U.S. metros. While several cities posted steady year-over-year (YoY) growth, others recorded declines, and a few markets displayed what might be short-term corrections after earlier spikes.
Main Takeaways
- Strong Growth Markets: Atlanta (+6.0% YoY), New York City (+4.6% YoY), San Francisco (+4.5% YoY), Chicago (+4.3% YoY).
- Softening Markets: Houston (-6.9% YoY), Phoenix (-4.8% YoY), Dallas (–2.9% YoY), Miami (-2.9% YoY), Los Angeles (-1.6% YoY).
- Stable Markets: Los Angeles (+1.6% YoY), Washington (+2.0% YoY).
High-Cost Metros: New York, San Francisco, Los Angeles
New York City remained the most expensive market, ending July at $3,657. Although this was a sharp –7.2% MoM correction from June, rents remained 4.6% above last year, showing that the market still commands strong long-term growth despite volatility. San Francisco rose to $2,601.5, up 1.6% MoM and 4.5% YoY, highlighting sustained pressure in the Bay Area. Los Angeles, meanwhile, reached $2,270, up 1.6% YoY despite a –1.1% MoM dip, suggesting modest annual growth with short-term fluctuations..
Mid-Tier Market: Washington, Miami, Chicago
Washington ended July at $2,113, down -1.0% MoM but still 2.0% higher YoY, reflecting steady if unspectacular growth. Miami closed at $1,800, a 0.7% MoM increase but -2.9% below last year, indicating that factors like affordability constraints might be weighing on the market. Chicago landed at $1,645, dipping -0.6% MoM but showing a 4.3% YoY increase, a sign of resilience compared to other Midwestern metros.
Affordable Metros: Atlanta, Dallas, Houston, Phoenix
Atlanta continued to perform strongly, reaching $1,455, up 6.0% YoY despite a slight -0.4% MoM dip. Dallas fell to $1,234, marking a -2.9% YoY decline. Houston held at $1,104, climbing 6.5% MoM but -6.9% lower YoY, reflecting a significant annual drop despite short-term gains. Phoenix ended at $1,203, down –1.8% MoM and -4.8% YoY.
Conclusion
The July 2025 multifamily rent data underscores the uneven nature of the 1-bedroom rental market across the U.S. Atlanta, New York City, San Francisco, and Chicago recorded strong annual growth, while Houston, Phoenix, Dallas, and Miami weakened, with Houston posting the steepest decline. Los Angeles and Washington remained comparatively stable, balancing modest growth against short-term fluctuations.
FAQ
What does the July 2025 multifamily rental data show about the U.S. market?
The July 2025 multifamily rental data reveals a fragmented market. High-cost metros like New York and San Francisco posted solid annual growth, while affordability markets such as Houston, Phoenix, and Dallas weakened. Mid-tier cities like Chicago and Atlanta showed resilience, Washington remained steady, and Los Angeles recorded modest annual growth.
Which cities saw the highest rent increases in July 2025?
The strongest YoY growth in the multifamily rental data came from Atlanta (+6.0%), New York (+4.6%), San Francisco (+4.5%), and Chicago (+4.3%). These gains might be linked to strong demand, job growth, and limited supply.
Which cities experienced rent declines in July 2025?
The sharpest YoY declines in the multifamily rental data were in Houston (–6.9%), Phoenix (–4.8%), Dallas (–2.9%), and Miami (–2.9%). These drops suggest affordability constraints and cooling demand.
Where can I buy multifamily rental data?
Reliable multifamily rental data can be purchased from speciali\ed providers that aggregate reliable listings and market insights. Companies like Dwellsy provide access to both MFH and SFR datasets, serving proptech firms, universities, data companies, geospatial businesses, and hedge funds. These datasets typically include historical trends, comparable properties, rent benchmarks, and a range of other granular insights to support accurate decision-making.
