Yardi Matrix research reveals stable single-family build-to-rent occupancy amid negative rent growth

New report explores current trends in a key U.S. housing sector

SANTA BARBARA, CALIF., Jan. 12, 2026 – Although slow single-family home sales help sustain demand for single-family build-to-rent (SFR-BTR) units, advertised rates for the segment fell $4 to $2,180 in December 2025. The 1% year-over-year decline that month was the steepest such drop in more than a decade, according to new research from Yardi® Matrix.

With mortgage rates not expected to fall significantly, SFR-BTR occupancy rates have remained stable, holding at 94.9% as of November 2025. Year-over-year occupancy gains in the face of weak rent growth suggests that “demand is holding up better than pricing power,” with SFR-BTR owners “willing to moderate rent growth to maintain occupancy, especially in high-supply markets,” Yardi Matrix analysts state.

Mirroring a trend seen in the multifamily housing sector, annual rent growth remains elevated in some Midwest markets including Minnesota’s Twin Cities, Chicago and Grand Rapids, Mich.

See the latest rent growth and occupancy trends in 30 U.S. metros in the Yardi Matrix Single-Family Build-to-Rent Report for December 2025.

Yardi Matrix offers the industry’s most comprehensive market intelligence tool for investment professionals, equity investors, lenders and property managers who underwrite and manage investments in commercial real estate. Yardi Matrix covers multifamily, single-family rentals/ build to rent, affordable housing, student housing, self storage, office, industrial, retail and vacant land property types. Email [email protected], call (480) 663-1149 or visit yardimatrix.com to learn more.

About Yardi

Yardi® develops industry-leading software for all types and sizes of real estate companies across the world. With more than 10,000 employees, Yardi is working with our clients to drive significant innovation in the real estate industry. For more information on how Yardi is Energized for Tomorrow, visit yardi.com.