INVH · 8-K · 20261028PR000053

Rental Rate / Leasing Spreads

Invitation Homes Inc. · 2026-10-28 · Importance 30 · Surprise 32

Same Store lease-over-lease blended rental rate growth was 3.0% in Q3 2026, with renewal leases up 4.3% and new leases down 0.2%. Regional blended growth was highest in the Midwest at 5.5%, including 5.7% in Chicago and 5.1% in Minneapolis. Growth was 3.0% in the Western United States, 2.8% in Florida, 2.7% in the Southeast, and 2.8% in Texas; new-lease rates were negative in several markets, including Phoenix (-2.9%), South Florida (-2.6%), and Tampa (-2.4%).

Key facts

• Q3 2026 Same Store average monthly rent was $2,492, versus $2,448 in Q3 2025, an increase of 1.8%. source
• Q3 2026 Same Store renewal rent growth was 4.3%, new lease rent growth was (0.2)%, and blended rent growth was 3.0%. source
• Same Store Q3 2026 renewal rent growth was 4.3%, new lease rent growth was (0.2)%, and blended rent growth was 3.0%. source
• In Q3 2026, total average Same Store lease-over-lease rent growth was 3.0%: 4.3% for renewal leases and (0.2)% for new leases. source
• YTD 2026 total average Same Store lease-over-lease rent growth was 2.4%: 3.7% for renewal leases and (0.8)% for new leases. source