2026 US MULTIFAMILY MARKET UPDATE RECAP
Last week, we hosted our annual U.S. Multifamily Market Review, where we shared our perspective on the broader U.S. macroeconomic environment, current conditions in the U.S. multifamily market, and the trends we are seeing across our own portfolio.
The discussion highlighted what we believe remains a strong fundamental backdrop for the sector. U.S. economic fundamentals continue to show resilience, supported by steady GDP growth, a solid employment market, and continued U.S. leadership in technology and equity markets. These factors remain an important foundation for housing demand across the country.
At the same time, the relative cost of owning a home versus renting remains at historically elevated levels, reinforcing the affordability advantage of renting for many households. This dynamic – combined with population growth, lifestyle shifts, and long-term structural housing shortages – continues to support demand for multifamily housing, particularly in high-growth markets across the Southeast and Sunbelt.
We also discussed the supply side of the market. After several years of elevated new apartment deliveries, new supply is now declining substantially from recent peaks. As this wave of deliveries moderates, we believe the market is entering a more favorable period where resilient demand, easing supply pressure, and improving transaction conditions could create a compelling setup for U.S. multifamily.
Taken together, strong economic fundamentals, durable renter demand, the continued cost advantage of renting, and a meaningful slowdown in new supply all set the stage for what we believe could be an exciting period ahead for the U.S. multifamily market.
Linked below, you can find the video recording of our market review, as well as the slide deck available for download.
If you have any issues accessing these files, please reach out to Frank Wolt.
Click below to download slide deck:
