Multifamily real estate is entering a state of transition
As 2024 winds down, multifamily real estate is in a constant state of flux, driven by evolving tenant preferences, regional shifts, and broader demand changes. National rent growth has stabilized, but regional disparities are stark. According to the NAHB, sunbelt cities like Austin, Phoenix, and Jacksonville, once buoyed by pandemic demand, are seeing rent declines due to oversupply. In contrast, Midwest and Northeast markets, such as Louisville and Cincinnati, continue to see steady rent growth, driven by limited new construction and strong demand. These regional differences underscore the importance of digging beyond national trends when evaluating multifamily opportunities.
Read More
