US Apartment Vacancy Rate Falls to 7.8% in Q3, CoStar Report Shows

• CoStar Group’s Q3 Apartments.com RentPulse report showed tightening U.S. apartment supply, but renters retained bargaining power.
• National vacancy fell 0.5 percentage points year over year to 7.8%, its lowest level since late 2023.
• Rent concessions rose 0.6 percentage points from a year earlier to 4.2%, reflecting continued competition for renters.
• Midwest rents increased 2.3% year over year; oversupply drove a 3.3% decline in Fort Myers.
• Austin’s concession rate reached 9.9%, though rising leasing activity and declining vacancy signaled a potential shift away from renter-friendly conditions.

Disclaimer: This news brief was created by Public Technologies (PUBT) using generative artificial intelligence. While PUBT strives to provide accurate and timely information, this AI-generated content is for informational purposes only and should not be interpreted as financial, investment, or legal advice. CoStar Group Inc. published the original content used to generate this news brief via Business Wire (Ref. ID: 202610280910BIZWIRE_USPR_____20261028_BW484177) on October 28, 2026, and is solely responsible for the information contained therein.