Is Multifamily Trapped in a Volatile Economy?
The reignited conflict in Iran has upset the slow progress and growing momentum in the economy. The stock market has taken a hit as increased oil prices and interest rates have led to lower confidence among investors, but the multifamily market is following its own distinct trajectory. Certainly, there are many markets where multifamily performance has been more volatile than others, but for the most part, apartment fundamentals in 2026 have been relatively stable, with some positive growth in the Midwest and Northeast. Housing demand is not completely insulated from economic volatility, but the ups and downs of the economy in 2026 have not materially changed the trajectory of the multifamily market. Occupancy and demand are improving, and investors and owners with efficient operations will continue to benefit from this steady improvement in the second half of the year.
National YoY Rent Growth Average, May 2026*
-0.20% –
* Based on data from RealPage, Zillow, Yardi Matrix, Apartment List, and CoStar
National Occupancy Average, May 2026*
93.53% ↓
* Based on data from RealPage, Yardi Matrix, Apartment List, and CoStar
3.55% ↓
3.64% –
The Apartment Market and the Economy
U.S. Apartment Market Gains Momentum as Occupancy and Demand Improve (RealPage)
Will Economic Momentum Boost CRE for Rest of 2026? (Marcus & Millichap)
New housing law: the road forward for rental (John Burns Research and Consulting)
Multifamily Markets and Housing
Year-over-year price growth picks up pace, up 0.8% in May 2026, from 0.6% in April (Cotality)
A Comprehensive View of Rural Housing (Department of Housing and Urban Development)
Two or More Story Home Starts Pull Back in 2025 (NAHB)
The Rise of the Micro-Move: Why More People Are Moving Shorter, Faster, and Lighter (Realtor.com)
Multifamily Markets and Reports
Multifamily National Report: Stabilizing Market, but 2026 Much like 2025 (Yardi Matrix)
A Contrarian Take on Midwest Multifamily Stability: Is It Just a Mirage? (Trepp)
Housing Forecast: Multifamily Starts Down 8.5% Next Year (Fannie Mae)
CRE Markets and Reports
U.S. Office Recovery Builds Momentum as Demand Persists and Vacancy Declines (Colliers)
Bankruptcies Are Rising, Putting More Real Estate Up For Negotiation (Bisnow)
As Deliveries Slow, Industrial Demand Takes the Lead (Colliers)
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