The Weekly Pulse · Every Friday
Class A rents, read against the rates that move them.
Rents, vacancy and concessions across 15 major metros, beside the 10-year Treasury, SOFR and Fed funds. Plain English, every number sourced and dated. Free.
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The rates that decide a refi
w/wvs. 1 week earlierFixed-rate refis price off the 10-year (4.88% on the latest print); floating loans price off SOFR. See what this week's rates do to your loan →
Photo: Tobias Wilden / Unsplash
15
metros tracked
3
benchmark rates
100%
sourced & dated
The board
Metros, most concessions first
01
Austin
- Rent
- $1,296
- −1.1% y/y
- Vacancy
- 9.0%
- 9.7% yr ago
- Concess.
- 61%
- +13 pts y/y
Apartment List, Oct 2026 · all classes
02
Phoenix
- Rent
- $1,342
- −2.0% y/y
- Vacancy
- 7.7%
- 8.4% yr ago
- Concess.
- 58%
- +7 pts y/y
Apartment List, Oct 2026 · all classes
03
Charlotte
- Rent
- $1,311
- −1.8% y/y
- Vacancy
- 9.1%
- 9.0% yr ago
- Concess.
- 53%
- +7 pts y/y
Apartment List, Oct 2026 · all classes
04
Tampa
- Rent
- $1,468
- −1.7% y/y
- Vacancy
- 8.5%
- 7.4% yr ago
- Concess.
- 52%
- +12 pts y/y
Apartment List, Oct 2026 · all classes
05
Nashville
- Rent
- $1,364
- −1.1% y/y
- Vacancy
- 7.9%
- 8.1% yr ago
- Concess.
- 47%
- +7 pts y/y
Apartment List, Oct 2026 · all classes
06
Denver
- Rent
- $1,632
- −2.0% y/y
- Vacancy
- 7.9%
- 8.8% yr ago
- Concess.
- 47%
- +3 pts y/y
Apartment List, Oct 2026 · all classes
07
Raleigh
- Rent
- $1,394
- −0.1% y/y
- Vacancy
- 8.1%
- 8.2% yr ago
- Concess.
- 45%
- +0 pts y/y
Apartment List, Oct 2026 · all classes
08
Orlando
- Rent
- $1,509
- −1.1% y/y
- Vacancy
- 7.2%
- 7.4% yr ago
- Concess.
- 44%
- +4 pts y/y
Apartment List, Oct 2026 · all classes
09
Atlanta
- Rent
- $1,451
- +0.1% y/y
- Vacancy
- 7.2%
- 7.5% yr ago
- Concess.
- 43%
- +5 pts y/y
Apartment List, Oct 2026 · all classes
10
Dallas-Fort Worth
- Rent
- $1,413
- −1.3% y/y
- Vacancy
- 8.7%
- 8.7% yr ago
- Concess.
- 43%
- +8 pts y/y
Apartment List, Oct 2026 · all classes
11
Houston
- Rent
- $1,330
- −1.9% y/y
- Vacancy
- 8.4%
- 8.6% yr ago
- Concess.
- 41%
- +13 pts y/y
Apartment List, Oct 2026 · all classes
12
Miami-Fort Lauderdale
- Rent
- $1,806
- +0.4% y/y
- Vacancy
- 6.4%
- 6.4% yr ago
- Concess.
- 35%
- +4 pts y/y
Apartment List, Oct 2026 · all classes
13
Washington, DC
- Rent
- $2,165
- −0.1% y/y
- Vacancy
- 6.3%
- 6.5% yr ago
- Concess.
- 34%
- +7 pts y/y
Apartment List, Oct 2026 · all classes
14
New York
- Rent
- $2,341
- +2.5% y/y
- Vacancy
- 4.9%
- 4.6% yr ago
- Concess.
- 25%
- +5 pts y/y
Apartment List, Oct 2026 · all classes
15
Chicago
- Rent
- $1,729
- +2.9% y/y
- Vacancy
- 5.9%
- 5.3% yr ago
- Concess.
- 5%
- −1 pts y/y
Apartment List, Oct 2026 · all classes
Rent is the median on new leases across all apartment classes. Vacancy and concessions come from properties listed on Apartment List, which skew professionally managed. Class A-only rent is data coming.
What the Pulse reads
Three signals, one Friday email
Rents & concessions
Median new-lease rent, vacancy and the share of properties offering a free month, metro by metro.
Photo: Christian / Unsplash
New supply
Multifamily permits from the Census Bureau: the early read on what delivers in two years.
Photo: Zoshua Colah / Unsplash
The cost of money
The 10-year Treasury, SOFR and Fed funds from FRED, and what they do to refi proceeds.
Photo: David Kristianto / Unsplash
The Amenity Stack
What luxury residents actually use
61 vendors behind the Class A resident experience, from smart locks and package lockers to room service and the dog spa.
Run the numbers
What does this week's 10-year do to your loan?
Size a refi on DSCR and LTV at today's index, and see the cash-in gap before your lender does.
Photo: Simon Peter / Unsplash