Major Upgrades to Radix’s Market Intelligence

Major upgrades to Radix’s market intelligence

This week, we’ve integrated millions of new public data points into our Research product, adding tens of thousands of properties to our Radix Analytics platform for a more comprehensive look at shifting dynamics within specific MSAs and submarkets.

All data is based on publicly available information, including RealRents. These properties were previously available for individual benchmarking analysis and are now also included in our aggregate trends.

With expanded market coverage, your management and investment decisions are now more informed than ever.

Insights into our updated trends

Occupancy rates increased.

Based on the additional data points, the U.S. average occupancy rate shifted upwards by 95 basis points, from approximately 93.0% to 94.0%. Larger MSAs typically increased within a range of 50 to 170 basis points.

Generally, the groupings of markets in the lower, middle, and higher end of the occupancy rate spectrum remained the same. The major Texas markets still had some of the nation’s lowest occupancy rates, and several California and Northeast markets were near the top of the rankings.

The overall occupancy rate increase is not surprising. Verified properties on RealRents list the actual physical occupancy rate, but the estimates from other public sources typically result in slightly inflated figures because they are derived from the number of units listed as opposed to the actual rate.

Net effective rent growth moderated.

Annual net effective rent growth was weaker for both the U.S. and most MSAs. The U.S. average annual growth moderated from 1.7% down to 0.3% after including the broader set of properties and application of concessions.

Notable markets with negative annual net effective rent growth included Austin (-3.6%), Denver (-6.6%), Houston (-4.6%), Phoenix (-4.4%), and Washington, DC (-2.2%). Those MSAs also had some of the largest downward revisions from previously published metrics.

Some locations such as Dallas (0.9%), Seattle (-0.8%), and Tampa (0.5%) had very minor changes compared to recent reports.

Leasing activity was mixed.

The U.S. leased percentage increased from 95.0% to 95.74% based on the new revisions. Still, the indicator was 75 basis points lower than a year ago, suggesting those properties have more units available compared to the same time last year.

The number of new leases signed was essentially the same as previously reported at the U.S. level, with 1.9 leases per property last week. The number of leases signed was down 0.4 from the prior year. If properties are leasing at a slower pace, it makes sense that availability would increase compared to the prior year.

More enhancements are on the way.

This update is a key milestone in our ongoing data evolution. As we continue to enhance our platform, you can anticipate further advancements to our market intelligence in the months to come. We look forward to helping you navigate these evolving trends with our most robust dataset to date.

Source: Radix Data as of 2/22/2026

About Radix

Radix advances intelligent decision-making across the multifamily ecosystem. We provide transparent, accessible data to every stakeholder—investors, managers, brokers, lenders, and renters—enabling smarter choices that shape how we invest, live, and grow. With Radix Analytics and Radix Underwriting (redIQ), professionals can source, acquire, and manage assets with confidence. Renters benefit from RealRents, which delivers unprecedented pricing transparency and helps them find homes that truly fit their needs. Whatever your role in multifamily, Radix is the trusted source of value determination.