Despite multifamily vacancy rates largely stabilizing nationwide in 2024, year-over-year rent growth still lags pre-pandemic levels. This puzzling result can be partly explained by the unusually large amount of new supply that has been completed but not yet leased.
Deliveries are waning alongside sharply decelerating starts, while demand moderates amid slower job growth and reduced immigration. The growing affordability gap is driving migration to smaller cities and prompting policymakers at all levels to devise strategies to deliver more housing. Multifamily remains a favored asset class for investors, but deal flow is limited by questions about whether ...
The U.S. multifamily market may be entering a more normalized and competitive phase. In 2021, national rent growth reached double digits as post-pandemic mobility and remote-work migration boosted ...
The U.S. multifamily market has shown tremendous resilience in the face of multi-decade high supply levels. Household formation has been stellar, leading to improving occupancies and effective rent growth at the national level.
s 2025 comes to a close, the U.S. multifamily real estate market finds itself in a transitional but stabilizing phase. Following two years of turbulencemarked by inflation, interest rate hikes, and a wave of new supplythis past year was best described as slow but steady. Now, all eyes are on 2026 as owners, investors, and developers anticipate firmer footing and fresh ...
